JW Lees 'war chest' to fund 15 pubs a year

By John Harrington

- Last updated on GMT

Related tags: Wet-led community pubs, Bar

William Lees-Jones said the company is 'sitting on a war chest of over £20m'
William Lees-Jones said the company is 'sitting on a war chest of over £20m'
JW Lees has a £20m “war chest” to open 15 pubs per year and has identified four operating templates for its expansion, managing director William Lees-Jones has told the Publican's Morning Advertiser's sister title M&C Report.

The company has reported a record turnover of £62.3m, up 5%, in the year to 31 March. It plans to spend £67.5m opening 65 pubs across the north west over five years as it commits to 15% annual growth over the period, reaching turnover of £100m and creating 1,000 new jobs.

Regarding future expansion, Lees-Jones told M&C Report​: “The capex plan is there. We're sitting on a war chest of over £20m.

“We’re now in a position where we’ve worked out which formats work for us and we’re into a rollout mode that is all about getting the right people in the right places.”

He said JW Lees, which owns 115 tenanted and 35 managed pubs, operates across four different trading formats: The Signature, an “upmarket community pub” with a wet/dry split of about 50/50; The Destination, with higher-calibre food, such as more specials and main courses c£3 more expensive; Duttons, its urban cafe bar format; and wet-led community pubs with food.

Related topics: MA Leaders Club

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