Wetherspoons, one of the largest pub chains in the UK, broke the news that it was closing 61 of its pubs before the end of 2024, despite an announcement for a significant increase in profits. Of these, some have actually closed, and others are still to shut down, as the firm shall open new branches once things pick up.

It’s time to bid farewell to your favourite Wetherspoons pubs, as this popular UK pub chain, one that offers inexpensive drinks and food, is going to close 61 of its pubs by the end of this year.

Wetherspoons’ Recent History
Ten years ago, JD Wetherspoons had more than 950 pubs. A total of 61 of those pubs will shut by the end of 2024, it was announced. Announcing last year, they have already closed 41 pubs.

Despite Good Profits
This decision comes even though Wetherspoons reported a significant increase in profits earlier this year. Their pre-tax profits rose nearly eight times to £36 million, with their sales also going up by 7.7%. However, the company still plans to close more pubs.

Which Pubs Are Closing?
Wetherspoons has confirmed the closure or lease surrender of 26 pubs in cities including London and Liverpool. Dozens more are formally listed for sale, others have quietly closed and some have changed hands. They include the Spa Lane Vaults in Chesterfield and The Sir Daniel Arms in Swindon.

Tim Martin’s Insights

Their chairman, Tim Martin, elaborated that despite the business making more money, it still had not returned to the profit levels experienced before the pandemic; he thinks people are being extremely tight-fisted but still go out for reasonably-priced drinks and meals. “People are happy to go out for a pint if you keep the price competitive. It’s not like buying a sofa,” he said.

Plans for the Future
Contrary to these closures, there are big plans lying ahead for Wetherspoons. The company owns 71% of its pubs, compared with 41% in 2010. Added to this, he said that they were looking at 130 towns and cities to open new pubs over the next decade.

New Openings
A few weeks ago, Wetherspoons opened new pubs that include the Captain Flinders near Euston Station in London, the Scribbling Mill in Leeds, and the Lion and Unicorn at Waterloo Station. A priori, the objective of this company is to have as many 1,000 pubs operational in the future.

Sales Are Up
Even though Wetherspoons had fewer pubs, sales increased. Sales are now one-third higher than in 2015, according to the group’s financial report in March; in fact, sales per pub rose by about 50%.

Conclusion
Although many Wetherspoons pubs are closing this year, the company looks optimistic towards the future. Indeed, they have plans for new sites and further affordable drinks and food to be delivered to their customers. For now, make sure to get down your local Wetherspoons while you still can!