* 2,150 pub-based roles affected
* New curbs make business more difficult, says CEO
* Company initiates full review of overhead costs
(Adds shares move, background)
By Jasmine I S and Muvija M
Oct 15 (Reuters) - Pub operator Marston's launched
consultations on up to 2,150 job losses on Thursday, saying new
UK coronavirus restrictions had forced its hand after months of
progress in reopening hundreds of its pubs.
The company said that all of the employees concerned are on
furlough but are likely to be affected as it starts a full cost
review to see out the latest curbs, which began this week in
Liverpool and are likely to be extended to other UK regions.
"The introduction of these further restrictions and guidance
affecting pubs is hugely disappointing in view of a lack of
clear evidence tying pubs to the recent increase in infection
levels," the company said on Thursday.
Pubs, restaurants and other leisure businesses were ordered
to close at 10 p.m. in restrictions put in place across the
whole of England last month, but the government has imposed a
new three-tier system that requires pubs and bars to close in
areas in the "very high" alert level.
London's mayor, Sadiq Khan, warned on Wednesday that the
capital is likely to face tighter restrictions this week.
The big chains have made progress since pubs were allowed to
reopen in July and Marston's said 99% of its 1,350 pubs had
opened, with like-for-like sales averging 90% of last year's
levels.
The company, which has 21 pubs in Scotland and 18 in the
Liverpool area, has already scrapped its dividend and said it
needs more funding to navigate through the crisis.
Shares in Marston's, a two-century-old brewer that owns the
Pitcher & Piano bar chain and is known for its Pedigree,
Hobgoblin and Lancaster Bomber beers, fell 2.5% to 43.7 pence by
0705 GMT and are down 66% this year.
Group sales for the year to Oct. 3 were down 30% at 821
million pounds ($1.1 billion).
More job losses are expected in the UK as the government's
furlough scheme comes to an end this month.
Rival Revolution Bars has announced plans to close
outlets and Mitchells & Butlers said its outlook was
challenging after imposition of the 10 p.m. curfew.
($1 = 0.7694 pounds)
(Reporting by Jasmine I S and Muvija M in Bengaluru
Editing by Uttaresh.V and David Goodman)