Pubs in the UK should stay open during the coronavirus outbreak and there are no health benefits to shutting them, J D Wetherspoon chairman Tim Martin said today, despite the government asking people to avoid them.
Wetherspoon pubs will stay open with extra precautions, such as asking people to not queue at the bar, until the government orders them shut, Tim Martin said.
"Even under extreme duress, we would keep pubs open," Martin said on a call with media.
British Prime Minister Boris Johnson on Monday essentially shut down social life in Britain and ordered the most vulnerable to isolate for 12 weeks, as the country steps up efforts to stem the spread of the virus.
While the government has not ordered pubs to shut completely, it is due to make an announcement this evening where it could take further measures.
Shares in the pub operator jumped 27.3% this morning after the company said it had enough liquidity to maintain operations at a substantially lower level of sales and as it outperformed the sector last week.
However, the company cancelled its dividend and warned of profit coming in below market expectations, joining the ranks of peers Marston's and Mitchells & Butlers which have warned on lower sales.
Tim Martin, who drew criticism for his comments from social media users, said the company would also delay most capital projects and cut spending.
Martin said Wetherspoon is working closely with its banks, landlords and suppliers and that the government's proposals on business rates relief and credit guarantee facilities will also help.
This week, Martin said the British government was making a "tactical error" in shutting down social life to combat the spread of the coronavirus, a move that could destroy the tax base and cripple the economy.
