News That Matters

Tag: Wetherspoon

Wetherspoon profits to take £40m hit in run-up to Brexit

Wetherspoon profits to take £40m hit in run-up to Brexit

Business
By James Sillars, business reporter JD Wetherspoon has warned its half-year profits will take a hit from at least £40m in additional costs in the run-up to the UK's departure from the EU.The pub chain's chairman Tim Martin - a champion of the Brexit cause - also told Sky News it was "b*******" to suggest that the spending slowdown facing the wider high street was linked to consumer caution over Brexit. He used the company's second-quarter trading update to tell investors that a series of cost pressures would combine to hit its bottom line.Mr Martin wrote: "Sales growth has been strong since our last update. Costs, as previously indicated, are considerably higher than the previous year, especially labour, which has increased by about £30m in the...
Wetherspoon shuts down social media accounts

Wetherspoon shuts down social media accounts

Business
Pub chain JD Wetherspoon says it is closing down all its social media accounts following the "trolling" of MPs and ethnic minorities.The Twitter, Instagram and Facebook accounts for all 900 pubs and head office are shutting down with immediate effect, the pub operator said.The move also takes account of recent concerns over the misuse of personal data and the addictive nature of social media.A spokesman for the chain told Sky News: "We've noticed a lot of MPs get trolled and some receive some nasty comments and the company doesn't like what's going on - we don't like the general climate of social media."The spokesman confirmed the decision was not related to any specific incident and no JD Wetherspoon account itself was involved in the trolling of any MPs or ethnic or religious minorities....