An annual report released by Wetherspoons in 2024 revealed the chain offloaded more than two dozen locations in 2024, generating a multi-million-pound cash flow
Wetherspoons regulars have been dealt a major blow as the British pub chain closed down more locations.
The chain, owned by Brit businessman Tim Martin, has parted with dozens of locations in recent years as the service industry continues to struggle from economic woes caused by Covid, inflation, and cost-of-living pressures.
Wetherspoons’ sales topped £2billion for the first time last year, up from £1.9billion in 2023. Yet the chain still parted with several locations last year, with three having exchanged hands since September, two of which have closed their doors.
The London Economic reported last year that the Sir Daniel Arms, in Swindon, The George, in Wanstead and Hain Line in St Ives had exchanged by September. Two of those locations – the Hain Line and the George – have since closed their doors, while the Sir Daniel Arms remains open for business.
The Cornish Hain Line shut on October 7 last year, around a year after it was marked for sale by JD Wetherspoon following a “commercial decision” prompted by higher food and energy costs. The George closed as a Wetherspoons pub around a week later on October 13 after being bought by the Urban Pubs and Bars chain.
The chain plans to convert the former Wetherspoons site into the George and Dragon, the name the location went by in 1904. Urban Pubs and Bars said in a statement: “We are delighted to be able to rescue this much loved pub, a place that has been part of Wanstead’s history since 1716.
“Following some refurbishment work the pub will reopen as a great London traditional pub serving great food including a range of delicious Sunday roasts and a wide selection of beers. We look forward to seeing you soon.”
The closures are likely not the last, with JD Wetherspoon PLC looking to sell more pubs in 2025, according to its portfolio managers, who list multiple locations up for sale. The firm’s portfolio – which is co-managed by real-estate firm CBRE Group and Savills – currently includes two locations in two separate home nations.
According to JDW Disposals, the site that lists Wetherspoons locations up for sale – or “disposal” – The Quay in Poole, Dorset, and The Ivor Davies in Cardiff are on the sale list. The pubs are “being considered for sale either as a portfolio, in small packages, or individually”, with the Ivor Davies on the market while The Quay is under offer, but not yet sold.
JDW Disposals states: “CBRE and Savills have been jointly appointed by JD Wetherspoon plc to handle the sale of a new portfolio of public houses which have been identified for disposal. The properties include high quality freehold and leasehold public houses in busy locations across the UK.
“This represents a rare opportunity to acquire substantial, landmark public houses with a high standard of fit out in high profile locations. The properties, which are being considered for sale either as a portfolio, in small packages, or individually, are located across the UK and will appeal to existing operators, new entrants or those seeking alternative use subject to obtaining the appropriate consents.”
