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The boss of one of the UK’s biggest pub chains is keeping its pubs open despite the government’s advice to avoid pubs.
Wetherspoon’s chairman Tim Martin told the BBC a shutdown would be “over the top”.
He said a sensible balance was for pubs to open but to implement “social distancing” measures, like no standing at the bar.
His stance is contrary to many other retail chains which have started to reduce hours or shut shops.
Mr Martin said that sales were declining rapidly following the prime minister’s advice to avoid pubs.
In the six weeks to 8 March, like-for-like sales had increased by 3.2% and total sales by 2.9%. However, in the following week, to 15 March, sales declined by 4.5%.
“In the early part of the current week, following the Prime Minister’s advice to avoid pubs, sales have declined at a significantly higher rate,” he said.
“It is obviously very difficult to predict, in these circumstances, how events will unfold in future weeks and months, but we now anticipate profits being below market expectations, so long as the current health scare continues.”
As a result, he said it was impossible to provide “realistic guidance on our performance in the remainder of the financial year”.
The company will delay most capital projects and delay expenditure where possible.
“As a result of these actions, combined with the government’s proposals on business rates relief and credit guarantee facilities, the company believes it has sufficient liquidity to maintain operations at a substantially lower level of sales.”