Pub chain Young’s eyes August reopening date
Pub chain Young’s announced this morning that it is preparing to reopen its venues on 3 August.
The company said the coronavirus pandemic had a significant impact on its full year results to 30 March, with pubs forced to close for the final 10 days of the financial year.
The closure of its pubs, and the downturn in trade in the days leading up to the lockdown, resulted in lost revenue of £13m, with a £7.7m hit to profit.
Young’s said it expects sales to be “materially below average” in FY21, before returning to more normal levels in FY22 “when this unprecedented period is at an end”.
“One thing we can be sure of is that at some point the pandemic will pass,” Young’s said this morning.
“The fabulous weather we have experienced so far this spring has been a gentle reminder of the enormous opportunity our business has to bounce back once it’s safe for the government’s restrictions to be lifted.
“I am looking forward to all of our team reuniting, opening the doors to our great pubs and welcoming back our customers once we are through this.”
Meanwhile, brewer Adnams said it expected to report a substantial loss in its half year results but outlined plans for its shops to reopen during the first half of this month.
“We remain optimistic that Adnams will pull through these difficult times and thrive in the future environment,” it said.