WETHERSPOON’S boss Tim Martin says his pubs could stop selling European beers because EU leaders’ have taken a “bullying” approach to the UK since the referendum.
The Brexit-backing chairman of the chain used a first-quarter trading statement to rip into German Chancellor Angela Merkel, French President Francois Hollande and European Commission president Jean-Claude Juncker.
He accused them of putting European businesses at risk by telling them not to negotiate with UK companies and to adopt an “intransigent” attitude.
Mr Martin said: “I don’t think Wetherspoon or British buyers are in a weak position because we can switch from Swedish cider to British cider.
“So the people put in a weak position are the sellers and I think that is the paradox that has not been illustrated. The UK is in a much more powerful position than most economists would assume.”
He added: “J D Wetherspoon normally agrees on trade deals with suppliers for three to 10 years.
“If we, and companies like ours, are unable to agree on tariff-free transactions, it will inevitably result in a loss of business for European companies which have done nothing to deserve this outcome.”
Mr Martin, who regularly uses company results announcements to berate Remainers, added that the “ultimate sanction will be in the hands of UK consumers, should they take offence at the hectoring and bullying approach of Juncker and co”.
French wine, Champagne and spirits, German beer and Swedish cider, for example, are all at extreme risk,” he added.
Wetherspoon said like-for-like sales in the 13 weeks to October 23 rose by 3.5%, but added that the number slowed to 2.3% in the last five weeks of the period.
The company also expects to be hit by higher costs in wages, business rates and repairs, with the level of capital investment in existing pubs rising from £34million last year to £60million.
It has only opened one new pub since the start of the financial year of the 15 intends to open over a 12-month period, and has sold nine.
Mr Martin added: “The Company’s sales growth has been strong in the last few months, but has slowed in recent weeks.
“The Company anticipates higher costs in the remainder of the current year, for instance in the areas of wages, business rates and repairs.”
Post a Comment