Wetherspoons regulars could soon find themselves paying more for a pint, after the company warned it was facing “considerable” cost pressures that may force it to raise its prices in the coming months.
The cost-of-living crisis is hitting millions of UK households hard, and Wetherspoons says that it too is feeling the strain. Despite this, the business told shareholders that its sales were improving and that it expected to break even this year.
Its warning about potential price hikes comes after the company - which runs more than 800 pubs across the UK and Ireland - was forced to close 14 outlets since the start of the financial year. But how much are Wetherspoons prices likely to rise by?
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Have pint prices already gone up at Wetherspoons?
Wetherspoons has already increased the price of a pint in recent months. In March, the chain upped its prices by 20p per pint in London and 10p elsewhere - an increase of around four per cent and two per cent respectively.
Previously, Wetherspoons had cut prices for its steak and curry club meals on Tuesday and Thursday nights. The move was an attempt to boost business and entice people to eat out, boosting business after all the disruption to trade caused by lockdown restrictions.
How much are prices at Wetherspoons likely to rise?
Wetherspoons has not yet indicated exactly how much it intends to increase the price of a pint, or whether it definitely intends to do so at all. However, the company has told shareholders that it may have to pass cost pressures on to its customers.
“As many hospitality companies have indicated, there is considerable pressure on costs, especially in respect of labour, food and energy. Repairs are also running at a higher rate than before the pandemic,” said Tim Martin, Wetherspoons chairman.
