JDW confirms price hike on food and drink

By Nikkie Thatcher

- Last updated on GMT

Increase in cost: drinks prices will rise by about 10p each and meals by 20p across the JDW portfolio
Increase in cost: drinks prices will rise by about 10p each and meals by 20p across the JDW portfolio

Related tags: Jd wetherspoon

Pub giant JD Wetherspoon (JDW) has confirmed food and drink across its estate will see a rise in prices.

JDW previously announced it was investing £11m into safety measures​ for staff and customers for reopening.

Spokesman Eddie Gershon said: “Prices will go up on beer, spirits and wine by approximately 10p a serving about 20p on a meal.

“All we can say in this area is we try to keep prices as competitive as possible. From time to time, there will be price rises but we always try and minimise them."

Less profitable

Gershon added: “Even with price rises, the entire pub industry, including JDW, will be less profitable than before pubs closed because costs will be so much higher.”

This comes after the pub group revealed it raised a total of about £141m before fees​, following a share placing in April 2020, in a business update.

A group of the company’s lending banks has also approved a further £48.3m loan through the Coronavirus Large Business Interruption Loan Scheme.

In a trading update in relation to Covid-19, the operator also said it will be opening its pubs on Saturday 4 July, in line with Government guidance. It stated that following consultation with employees, which had more than 3,000 suggestions, the pub company has created the ‘Wetherspoon Covid-19 Secure Operating Plan’, which sets out how it intends to safely operate pubs upon reopening.

Employee survey

JDW doesn’t intend to start any new pub development projects in the next 12 months but a small number of projects that were ‘on site’ when pubs closed will be finished in due course.

The company conducted an employee survey and as of Thursday 18 June, it had received responses from 36,004 (82%) of its employees.

Some 99% (35,616) of respondents intend to return to work but just over one in 10 (4,090) are not able to return immediately due to maternity leave, caring responsibilities or health issues.

A number of employees (388) said they do not intend to return to work and have either resigned or intend to.

Related topics: JD Wetherspoon

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