for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

UK pub operator Wetherspoon warns of annual loss on virus hit

Aug 24 (Reuters) - British pubs operator J D Wetherspoon Plc said on Monday it expected to incur an annual loss as its pubs were shut during the coronavirus lockdown and it was looking to discuss waivers for the current fiscal year with its lenders in due course.

The company said sales had received a boost from the government’s subsidised meal scheme but were still sharply lower compared with the year-ago period. Sales were likely to fall further as the scheme winds down, appealing to the government to maintain a lower value-added tax (VAT) rate for meals.

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up