Wetherspoons releases trading update

JD Wetherspoon has said like for like sales are down 16.9% for the 44 days to 16 August 2020 in a trading update. It said it had now reopened 844 of its 873 pubs, with some airport and station sites remaining shuttered. It has opened two new sites since July. The update said the businesses remains in a “sound financial position” with net debt at the end of the last financial year around £825m. It also agreed a £48.3m loan under the CLBILS scheme. Chairman Tim Martin also questioned the validity of lockdowns and took aim at the suggestion pubs were hives of infections when it comes to the coronavirus.