Marketing On-trade

Wetherspoon withholds supplier payments

JD Wetherspoon has decided not to pay its suppliers in both the UK and Ireland until the on-trade can reopen after the Coronavid-19 crisis.
In line with its policy in the UK, the company is seeking a moratorium on payments, telling suppliers, “We are asking for a moratorium on payments, until the pubs reopen, at which point we intend to clear outstanding payments, within a short timeframe.”

In line with its policy in the UK, the company is seeking a moratorium on payments, telling suppliers, “We are asking for a moratorium on payments, until the pubs reopen, at which point we intend to clear outstanding payments, within a short timeframe.”

The 900-strong pub chain, which has opened a number of pubs here over the last five years and which will be opening an 89-bedroom hotel and pub in Dublin’s Camden Street later this year, made pre-tax profits of £102.5 million on a turnover up by over 7% to £1.8 billion in the year to last July, declaring a profit of £45 million in the six months to January this year, up 12.5% on the £40 million declared in the previous H1.

In line with its policy in the UK, the company is seeking a moratorium on payments, telling suppliers, “We are asking for a moratorium on payments, until the pubs reopen, at which point we intend to clear outstanding payments, within a short timeframe.”

The communication, signed by Wetherspoon Chairman Tim Martin himself, continued, “We understand that this puts significant pressure on our suppliers, but we are kindly asking for your assistance during this very difficult period.

“A number of our suppliers have already offered assistance and we would be most grateful for your cooperation as well.”

The pub chain had already been under fire when it closed for telling its 43,000-strong staff that it could not afford to pay them until it received money from the Government’s “furlough” scheme to cover 80% of their lost wages.

 

 

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