Wetherspoon (JD) PLC Further update on COVID-19 (8559Q)

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RNS Number : 8559Q

Wetherspoon (JD) PLC

24 June 2020

24 June 2020

JD WETHERSPOON PLC

Further update on COVID-19

JD Wetherspoon ("the company") today provides the following update in relation to COVID-19.

Financing

Following a share placing in April 2020, from which the company raised a total of approximately GBP141m before fees, a group of the company's lending banks has approved a further GBP48.3 million loan through the Coronavirus Large Business Interruption scheme ("CLBILS").

Reopening of pubs

The company's pubs in England are due to reopen on 4 July 2020, in line with the government's guidance. Following consultation with employees, resulting in over 3,000 suggestions, the company has created the 'Wetherspoon COVID-19 Secure Operating Plan', which sets out how we intend to safely operate pubs when we reopen.

New pub projects

The company does not currently intend to start any new pub development projects in the next 12 months. A small number of projects that were "on site" when pubs closed will be completed in due course.

Employee survey

We have carried out a survey and, as at 18 June, have received 36,004 (82%) responses from employees, the results of which have already been shared with them.

Of those who responded, 35,616 have said they intend to return to work, although 4,090 are not able to return immediately, due to maternity leave, caring responsibilities, or health issues.

388 have said they do not intend to return to work, and have either resigned, or intend to resign.

1,934 have said that they are either "shielding" or are vulnerable. A percentage of them will not be able to return to work at this stage.

79 have tested positive for Covid-19, of which 74 have said they have recovered, and 5 have said that they are still unwell.

834 suspected they had Covid-19, not confirmed by a test, of which 780 have said they have recovered and 54 have said that they are still unwell.

Sadly, two loyal members of staff died at the end of April, having tested positive for Covid-19. Our condolences go to their families, friends and colleagues.

The company's financial year ends on 26 July 2020 and, following guidance from the Financial Conduct Authority and the Financial Reporting Council relating to the challenges preparing accounts at the current time, the full year results are now due to be announced on 9 October 2020.

Ends.

NOTES TO EDITORS

1. J D Wetherspoon owns and operates pubs throughout the UK and Ireland. The company aims to provide customers with good-quality food and drink, served by well-trained and friendly staff, at reasonable prices. The pubs are individually designed and the company aims to maintain them in excellent condition.

   2. Visit our website  www.jdwetherspoon.com   . 

3. The annual report and financial statements 2019 has been published on the company's website on 13 September 2019.

4. The current financial year comprises 52 trading weeks to 26 July 2020.

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June 24, 2020 02:00 ET (06:00 GMT)