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Highlights
- Over 400 pubs have been wiped out in England and Wales in 2021 due to pandemic related slowdown.
- On an average, 37 pubs are being transformed into offices or homes every month.
- With the impact of Omicron still unclear, the future of pubs and the overall hospitality sector is still hanging in balance.
Amid the Omicron fears, pubs are yet again facing the brunt of the pandemic-related restrictions. According to real estate adviser Altus Group, the number of pubs, which are accountable for property taxes, business rates, comprising of the unoccupied ones as well as the ones being offered to let, have gone down by 444, from 40,617 last year to 40,173 in December 2021. This means that on an average, 37 pubs have been transformed into offices or homes every month this year.
Over the last four years, 2,277 pubs have been wiped out across the UK, and the lowest numbers were recorded in Wales and the North East, with 3,060 and 1,983 pubs, respectively. The highest number of pubs were spotted in the South West and North West, with 5,739 and 5,361 pubs, respectively.
With the impact of Omicron still unclear, the future of pubs and the overall hospitality sector is still hanging in balance as it has been among the worst-hit sectors due to the pandemic.
Support measures worth £683 million have recently been announced for pubs, restaurants and cafes, by the UK Government, including one-off grants worth up to £6,000 per premises due to immense cancellations of events at the most profitable time of the year.
Let’s take a look at some of the affected UK stocks.
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J D Wetherspoon plc (LON: JDW)
The market cap of FTSE 250-listed company stood at £1,151.67 million as of 23 December 2021. It has given a return of -13.03% to its shareholders in the last one year and its YTD returns stood at -19.53% as of 23 December 2021. J D Wetherspoon plc’s shares were trading at GBX 898.00, up by 0.39%, at 8:01 AM (GMT) on 23 December 2021.
City Pub Group Plc (LON: CPC)
The market cap of City Pub Group plc stood at £95.04 million as of 23 December 2021. It has given a return of 15.64% to its shareholders in the last one year and its YTD returns stood at 4.05% as of 22 December 2021. City Pub Group plc’s shares were trading at GBX 91.50 at 8:03 AM (GMT) on 23 December 2021.
Restaurant Group Plc (LON: RTN)
The market cap of Restaurant Group plc stood at £674.77 million as of 23 December 2021. It has given a return of 50.89% to its shareholders in the last one year and its YTD returns stood at 39.83% as of 23 December 2021. Restaurant Group plc’s shares were trading at GBX 89.10, up by 1.02%, at 8:05 AM (GMT) on 23 December 2021.
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Mitchells & Butlers Plc (LON: MAB)
The market cap of the FTSE250-listed company stood at £1,339.10 million as of 23 December 2021. It has given a return of 20.01% to its shareholders in the last one year and its YTD returns stood at 11.27% as of 23 December 2021. Mitchells & Butlers plc’s shares were trading at GBX 242.20, up by 1.51%, at 8:06 AM (GMT) on 23 December 2021.
Young & Co.'s Brewery Plc (LON: YNGA)
The market cap of Young & Co.'s Brewery plc stood at £535.01 million as of 23 December 2021. It has given a return of 30.29% to its shareholders in the last one year and its YTD returns stood at 20.77% as of 23 December 2021. Young & Co.'s Brewery plc’s shares were trading at GBX 1,570.00, up by 0.97%, at 8:07 AM (GMT) on 23 December 2021.
Loungers Plc (LON: LGRS)
The market cap of Loungers PLC stood at £285.10 million as of 23 December 2021. It has given a return of 34.06% to its shareholders in the last one year and its YTD returns stood at 22.29% as of 23 December 2021. Loungers plc’s shares were trading at GBX 278.00, up by 0.18%, at 8:07 AM (GMT) on 23 December 2021.
