Wetherspoon pubs reveal reopening plan after 'zero' sales
Wetherspoon, which runs venues in Norfolk like the Bell, has revealed how long it anticipates being closed. - Credit: Archant
Pub giant JD Wetherspoon, with venues across Norfolk, is burning through £4.1m a week while all its pubs are closed.
And it revealed it does not expect to reopen until at least the end of March because of Covid.
The firm said it has made "zero" sales in 2021 so far as all of its 872 pubs have remained shut.
It added that more than 99pc of its 37,674 current employees are furloughed.
The group has reduced its staff levels by more than 6,000 since last March, including a raft of redundancies at its head office and airport sites.
You may also want to watch:
It predicted it would take until 2022 to return to trading levels from 2019.
As a result, Wetherspoon said it plans to raise between £92.1m and £93.7m by issuing 8.4m new shares.
The chain said it believes it has cash reserves to last it until the end of the current financial year without securing an additional government loan.
Most Read
- 1 Police on scene as mass vigil for teen enters second day
- 2 Three arrests after more than 100 people gather in Great Yarmouth
- 3 Teenager who died in motorcycle crash named
- 4 Wartime explosives found on Hunstanton and Yarmouth beaches
- 5 Bird's eye view of new £26m seaside leisure centre taking shape
- 6 Most of Norfolk sees Covid cases half in a week
- 7 Coronavirus jabs rolled out to people aged 56 to 59
- 8 Motorcyclist, 17, dies after crashing into lamp post
- 9 Which Norfolk Wetherspoons pubs are reopening from April 12?
- 10 9 big movies filmed in Norfolk - and why there could be more
