JD Wetherspoon plans 250 new pubs in Britain

by telegraph.co.uk - 01/12/2009

"JD Wetherspoon, the pub chain known for its discount food, has announced plans to open 250 new pubs across Britain in a move it says will create 10,000 jobs. "

The chain, which already has more than 700 pubs in the country, told shareholders today it will spend £250m on the plan over the next five years. It will see Wetherspoon pubs arrive in Sheffield, Newcastle and Liverpool.

Wetherspoon has so far managed to buck the trend in the beleaguered pub sector and enjoyed a 4.5pc increase in revenues in its first quarter.

Its offerings include a £2.99 cottage pie and chips and it has so far prospered in the recession as consumers seek out cheaper deals.

Tim Martin, the chairman of Wetherspoon who began the chain with a single pub in north London, said that the pubs would be an "asset to their respective towns and cities."

Shares in Wetherspoon have jumped 49pc so far this year despite stopping dividend payments in January.

More Details: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/6698425/JD-Wetherspoon-plans-250-new-pubs-in-Britain.html