Friday, 20 November 2015

TWITCHEL INN UP FOR SALE


The Twitchel Inn in Long Eaton is one of 34 pubs that JD Wetherspoon are to dispose off after it warned of a second year of falling profits. It is the biggest sell off since the chain was founded 36 years ago. CBRE have been appointed to deal with the sale of the 34 outlets from Portsmouth to Glasgow which are estimated to be worth around £40million. Weatherspoons currently have 953 pubs.
Chairman Tim Martin said: “This is a periodic review of the portfolio. The pubs we are selling average 20 to 30 per cent less sales than other Wetherspoon pubs.”
Second biggest high street pub operator Stonegate Pub Company are expected to lead the way in snapping up Weatherspoons cast offs, so drinking on Howitt Street may not necessarily be coming to an end.