Wetherspoons set to shut three more pubs with locations across UK confirmed
Pub giant JD Wetherspoon is putting three more pubs on the market - as buyers are sought for a string of popular boozers. Three Wetherspoons pubs remain on the market, including the Ivor Davies in Cardiff, which has been listed by Savills.
The listing states: “The Ivor Davies occupies a prominent position on Cowbridge Road East in the popular suburb of Canton, approximately one mile to the west of Cardiff City Centre.” The Sir Daniel Arms in Swindon is also up for sale.
The pub remains open. Despite several sales attempts, the freehouse on Fleet Street, first listed in July 2021 and then briefly removed in December the same year, is still serving patrons after being placed back on the market in September 2023 through Savills.
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JD Wetherspoon also lists The Quay in Poole for sale, and the pub chain is “inviting offers”. According to its last trading update, the company sold or gave up the lease on 30 pubs in 2024, following the closure of 41 locations in 2023.
Speaking last year, Tim Martin, chairman of JD Wetherspoon, said: “The gradual recovery in sales and profits, following the Covid pandemic, has continued in the current financial year. Total sales are, again, at record levels, with fewer pubs.
“Sales per pub are approximately 21 per cent higher than pre-pandemic levels, which has helped to compensate for the very substantial increase in costs." It came after Wetherspoons said it expects its net debt to stand at around £670million at the end of the financial year.
Mr Martin said: “For example, compared to the 2019 financial year, labour in this financial year has increased by approximately £164m, energy by £28m, repairs (also affected by labour costs) by £38m and interest (excluding IFRS 16 interest) by £16m.”
Mr Martin continued: “The average Wetherspoon pub has generated taxes of one sort or another of £7m in the last 10 years, as well as generating considerable employment and social benefits. The last government failed to implement tax equality between pubs and supermarkets, leading to pub closures and underinvestment.
“Wetherspoon hopes that the current chancellor, with a Bank of England pedigree, will understand how many beans make five, and rectify this inequality.”