Wetherspoons gives major update on pub closure plans – is your local is at risk?

WETHERSPOONS has given a major update on its pub closure plans and punters will be eager to know if their local is at risk.

The pub chain shared the latest developments in its trading report- an update on its financial condition and operations - which came out today.

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Wetherspoons has confirmed that 18 pubs have been sold, or surrendered to the landlord so far this year.

The Percy Shaw in Halifax, The Asparagus in London and The Lord Arthur Lee in Fareham have all been lost this year.

Many pubs were listed for sale through the estate agent Savills, but some have quietly closed and changed hands without being listed.

Meanwhile, locals could lose as many as 17 Wetherspoons drinking spots, which remain up for sale or under offer.

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This means that a buyer has presented an offer that is being considered by the seller.

It doesn't mean that the sale is guaranteed, and it could remain open if it doesn't complete.

Pubs in Cardiff, London, Bristol, Leith and Poole all remain on the market.

But it's not all bad news for drinkers, as the chain also opened two pubs this year.

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The Lion and Unicorn opened at London's Waterloo station in early April.

Plus, Wetherspoon opened its first pub at a holiday park at Haven’s Primrose Valley in Filey, North Yorkshire in March.

The chain – which has 809 pubs across the UK – warned in September 2022 that it was putting dozens of its pubs up for sale.

The seven pubs that are up for sale are:

• The Ivor Davies, Cardiff
• Thomas Drummond, Fleetwood
• Foot of the Walk, Leith
• Poole, The Quay
• London and Rye, London
• The Bears Head, Penarth, Wales

The seven Wetherspoons branches that are currently under offer are as follows:

• Wrong ‘Un, Bexleyheath
• Jolly Sailor, Bristol
• Alfred Herring, Palmers Green, London
• The Cross Keys, Pebbles
• The Regent, Kirkby in Ashfield
• The Sir Daniel Arms, Swindon
• The Hain Line, St Ives

The Sun has asked Wetherspoon for three other pubs that are up for sale, or under offer.

What is happening to the hospitality industry?

Many Food and drink chains have been struggling in recent months as the cost of living has led to fewer people spending on eating out.

Businesses had been struggling to bounce back after the pandemic, only to be hit with soaring energy bills and inflation.

Multiple chains have been affected, resulting in big-name brands like Wetherspoons and Frankie & Benny's closing branches.

Some chains have not survived, Byron Burger fell into administration last year, with owners saying it would result in the loss of over 200 jobs.

Pizza giant, Papa Johns is shutting down 43 of its stores soon.

Tasty, the owner of Wildwood, said it will shut sites as part of major restructuring plans.

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The brand plans to close 20 loss-making restaurants after a “challenging” start to the year.

 Stonegate, has raised fears about its survival as it races to plug its debts.

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