Wetherspoon (JD) PLC Statement re Investment Plans (2750W)

TIDMJDW

RNS Number : 2750W

Wetherspoon (JD) PLC

10 December 2019

For immediate release

J D Wetherspoon plc (the "Company")

Wetherspoon is to invest more than GBP200 million on its pub estate over the next four years.

It will invest the money developing new pubs and hotels as well as enlarging its existing pubs across the UK and Republic of Ireland.

The company anticipates that the investment will result in approximately 10,000 new jobs.

The majority of the investment will be channelled into developments in small and medium sized towns, but will also include larger towns and cities.

These are set to include new pubs in Bourne, Waterford, Hamilton, Ely, Diss, Felixstowe, Newport Pagnell and Prestatyn.

It will also be investing in major cities including London, Dublin, Edinburgh, Glasgow, Birmingham, Leeds and Galway.

Wetherspoon founder and chairman Tim Martin said: "We are looking forward to opening many more new pubs as well as investing in existing pubs over the next four years.

"We are especially pleased that a large proportion of the investment will be in smaller towns and cities which have seen a decline in investment in recent years.

"The fact that we will be creating approximately 10,000 jobs is great news too."

Wetherspoon operates 875 pubs and 58 hotels across the UK and Republic of Ireland and employs 44,000 staff.

10(th) December 2019

Enquiries

Eddie Gershon (PR on behalf of J D Wetherspoon)

Tel: 07956 392234

E-mail: news@eddiegershon.com

J D Wetherspoon plc

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

STREAPANESDNFFF

(END) Dow Jones Newswires

December 10, 2019 02:30 ET (07:30 GMT)

Wetherspoon ( J.d.) (LSE:JDW)
Historical Stock Chart
From Apr 2024 to May 2024