Wetherspoon has made the decision to close one of its longstanding pubs in Preston after 30 years of operation, causing distress among loyal patrons. The Grey Friar, established in the 1990s, is now on the market for sale.
Despite the impending sale, The Grey Friar will continue to serve customers as a Wetherspoon pub until a buyer is found. The company’s spokesperson assured that the staff members will have the opportunity to transfer to other Wetherspoon locations.
For regulars of The Grey Friar, the nearest alternative Wetherspoon option is the Twelve Tellers on Church Street in the city center. However, the closure of The Grey Friar has still left many saddened by the news.
Expressing their disappointment, customers took to social media to share their fond memories of the pub. One individual mentioned starting their Friday nights at Greyfriars, while another highlighted its convenience for pre-match gatherings.
In a recent development, Wetherspoon unveiled a new pub at a Haven holiday park in Exmouth earlier this year. The Red Rocks pub, situated at Haven’s Devon Cliffs site, can accommodate nearly 700 guests, making it one of the largest Wetherspoon establishments in terms of capacity.
Anticipating high demand, the Red Rocks is expected to serve up to 1,500 pints on peak days, with figures soaring to 2,000 pints on busy Saturdays. This addition marks the fifth Wetherspoon pub within a Haven holiday park, with more expansions projected in the future. Currently, Wetherspoon boasts a network of close to 800 pubs nationwide.
In its most recent financial update, Wetherspoon reported a 5.6% increase in like-for-like sales for the 13 weeks leading up to April 27. Overall, the group’s comparable sales surged by 5.1% year-to-date.
Chairman Tim Martin conveyed optimism regarding the company’s financial outlook, attributing recent trading success to favorable weather conditions. Despite challenges such as rising wage and tax expenses, Wetherspoon foresees a satisfactory outcome for the fiscal year.
With plans to open additional pubs in the coming months, Wetherspoon remains resilient amid escalating labor costs. The company had previously forewarned about a £60 million surge in labor expenses post-April due to higher national insurance contributions and minimum wage adjustments.
The hike in employers’ national insurance rate from 13.8% to 15% and the reduction in the earnings threshold for national insurance payment initiation from £9,100 to £5,000 have contributed to increased operational costs. Additionally, the minimum wage for individuals aged 21 and above rose to £12.21 in April, up from £11.44.