Last checked at 27 Nov 2020 07:00
27 November 2020
J D WETHERSPOON PLC
BUSINESS UPDATE
Wetherspoon announces that it has 13 pubs in England which are classified as tier one. In addition, there are 51 pubs in Wales, where the regulations approximate to tier one in England.
Tier two comprises 435 pubs. This tier includes 17 pubs in Scotland where the regulations approximate to tier two in England.
The company has 366 pubs which will remain closed. 315 of these pubs are in tier three in England. 51 are in Northern Ireland and Scotland. These 51 pubs have similar restrictions to tier three in England. This group of pubs will remain closed, since opening for takeaways, for example, is unlikely to be a realistic proposition.
Tim Martin said:
"The company has campaigned for pubs to revert to the rules agreed between the pub industry, civil servants, local authorities and health officials, which were introduced when pubs reopened in July.
"These rules greatly reduced pub capacity and provided strict social distancing and hygiene standards but, with difficultly, allowed pubs to trade viably. It is very disappointing that yet another raft of regulations has been introduced, which has effectively closed half our pubs. In reality, the government has extended a form of lockdown, by stealth, in large swathes of the country.
"There has been no evidence of widespread transmission of the coronavirus in pubs, as the Test and Trace system has evidenced. As councillor Ian Ward, leader of Birmingham City Council, recently said:
"The data we have shows that the infection rate has risen, mainly due to social interactions, particularly private household gatherings. In shops and hospitality venues there are strict measures in place to ensure they are COVID-safe, whereas it is much easier to inadvertently pass on the virus in someone's house, where people are more relaxed and less vigilant".
"Wetherspoon has produced a magazine (see link below), illustrating the errors of judgement made by the government and SAGE, which it hopes its customers and the public will read."
http://www.rns-pdf.londonstockexchange.com/rns/6954G_1-2020-11-26.pdf
Ends.
Enquiries:
John Hutson Chief Executive Officer 01923 477777
Ben Whitley Finance Director 01923 477777
Eddie Gershon Company spokesman 07956 392234
Please email any questions to investorqueries@jdwetherspoon.co.uk
Notes to editors
1. J D Wetherspoon owns and operates pubs throughout the UK and Ireland. The Company aims to provide customers with good-quality food and drink, served by well-trained and friendly staff, at reasonable prices. The pubs are individually designed, and the Company aims to maintain them in excellent condition.
2. Visit our website: www.jdwetherspoon.com
3. This announcement has been prepared solely to provide additional information to the shareholders of J D Wetherspoon, to meet the requirements of the FCA's Disclosure and Transparency Rules. It should not be relied on by any other party, for any other purposes. Forward-looking statements have been made by the directors in good faith, using information available up until the date on which they approved this statement. Forward-looking statements should be regarded with caution, because of the inherent uncertainties in economic trends and business risks.
4. This announcement contains inside information on J D Wetherspoon plc.
5. The current financial year comprises 52 trading weeks to 25 July 2021.
6. The next trading update is expected to be the Company's trading update on 20 January 2021.