Sir Tim Martin has given a new reason for punters across the country to start celebrating
Wetherspoons owner Sir Tim Martin has made a new vow on his chain's food and drink prices as the cost of living remains staggeringly high. The pub chain boss promised he would not increase the price of food and and drink for the rest of the year.
It comes after Wetherspoons saw a 7.7% increase in like-for-like sales in the past 10 weeks despite recently closing 52 locations. It also said that its sales per location were up by 21% when compared to pre-pandemic levels - another factor that has helped it freeze costs. The pub chain is also spending an extra £164 million on labour costs due to an increased living wage.
“Sales per pub are approximately 21% higher than pre-pandemic levels, which has helped to compensate for the very substantial increase in costs. For example, compared to the 2019 financial year, labour in this financial year has increased by approximately £164 million, energy by £28 million, repairs by £38 million and interest by £16 million.”
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