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* British pub operator to cut a further 108 jobs
* Wetherspoons reports first annual loss since 1984
* Rival Marston's warned this week 2,150 jobs at risk
(Adds additional quotes from Martin, updates shares)
By Aakash B and Paul Sandle
LONDON, Oct 16 (Reuters) - J D Wetherspoon accused
the British government of panicking and "shooting from the hip"
with new coronavirus restrictions it said could damage the
entire economy, after the pubs group reported its first annual
loss since 1984.
Pubs, restaurants and other leisure businesses were ordered
to shut early across England last month, and the government this
week introduced a three-tier system that requires pubs and bars
in areas of "very high" infections to close.
Wetherspoons, which along with other hospitality firms had
been recovering before the new system came into effect, said
like-for-like sales in the first 11 weeks of its new financial
year were down 15%, compared to a 30% fall for fiscal 2019-2020.
The pub group, run by chairman Tim Martin, an outspoken
critic of coronavirus restrictions, reported a 34 million pound
($44 million) pretax loss for the year to July 26, versus a
profit of 102 million a year earlier.
"The current environment of lockdowns, curfews and
constantly changing regulations and announcements threatens not
only pub companies, but the entire economy," Martin said.
He said trade had picked up after a slow start when pubs
re-opened in July, helped by the "sensational" success of the
government-funded "Eat Out to Help Out" scheme in August and
cuts in sales tax by British finance minister Rishi Sunak.
Wetherspoons cut some beer prices under the banner "Sunak's
Specials" and offered food deals called "Dishi Rishi".
But when COVID cases started to rise, the government
"panicked and started using emergency powers and shooting from
the hip", Martin said.
"We've had a palette of ever-changing regulations since
then; people find it very hard to understand and live with."
Shares in Wetherspoon were down 14% to 822 pence at 1230 GMT
after it announced a further 108 job cuts.
In August, it said it would cut up to 130 jobs at its head
office and last month added that 400 to 450 airport employees
could lose their jobs as it deals with depressed demand.
This follows Marston's announcement on Thursday of
up to 2,150 job losses, and warnings from pub bosses across
northern England that the latest round of restrictions will wipe
out their businesses.
Martin said sales of drinks that appeal to younger people
had risen as a proportion of the total, with shooters and
cocktails overtaking real ale.
"The nightclub crowd, how desperate must they be to go to
Wetherspoons," he said. "And having to social distance at the
same time."
($1 = 0.7755 pounds)
(Reporting by Paul Sandle in London, Aakash Jagadeesh Babu and
Yadarisa Shabong in Bengaluru; Editing by Patrick Graham,
Alexander Smith and Mark Potter)
