Wetherspoons
Encyclopedia
J D Wetherspoon plc is a British pub chain
based in Watford
. Founded as a single pub in 1979 by Tim Martin, the company now owns 815 outlets. The chain champions cask ale
, low prices, long opening hours, and no music. The company also operates the Lloyds No. 1 chain and Wetherspoon Hotels.
It is listed on the London Stock Exchange
and is a constituent of the FTSE 250 Index
.
. The J D Wetherspoon name comes from one of Martin's teachers in New Zealand who could not control his class, and said that Martin would never make it as a businessman.
In the early 1990s, Wetherspoon began a policy of routinely selling off their smaller and/or less profitable outlets, often—but not always—replacing them with larger premises very close by. There are now around 100 ex-Wetherspoon pubs, and none of the earliest outlets in the chain are still part of the estate. As of 2008, the oldest surviving Wetherspoon is the Rochester Castle in Stoke Newington
, opened in 1983.
In 1998, Wetherspoon introduced over-sized glasses and promoted the "full pint". This initiative was soon withdrawn, supposedly because customers were still asking for top-ups, but arguably because other pub chains did not follow their lead.
Wetherspoon reported record sales in the year to 26 July 2009 with takings growing by 1.2% and pre-tax profit up by 13% to £66.2 million, reduced to £45 million after one-off costs.Although it was a record sales they did not reach record profits due to the increases in government tax and duty. Wetherspoon claimed to be "the only large pub firm which opens all its pubs early in the morning", serving breakfast and coffee as well as other meals and drinks. In 2011 Wetherspoon announced that they had hit the £1 Billion sales mark for the first time ever.
In December 2009, Wetherspoon operated 743 pubs in the United Kingdom and planned to invest £250 million in 250 new pubs across the country over five years. As of February 2011, according to their website, the chain currently operates 833 pubs UK-wide.
Wetherspoon pioneered having non-smoking areas in pubs even before the Smoking, Health and Social Care (Scotland) Act 2005
and the Health Act 2006
in England introduced smoking bans in public houses, and started converting some of its pubs to completely non smoking in 2005 before introducing a complete ban in 2006.
The company also owns a chain of newer style bars, under their "Lloyds No. 1" brand. Unlike the Wetherspoon branded pubs, these bars play contemporary music (along with corresponding music videos that are displayed on wall mounted televisions) and often have a small dance floor.
Although not widely promoted, a third type of Wetherspoons outlet has also been trialled in recent years, focused more on food, with minimal Wetherspoon branding and an extended menu, with table service. Examples of these include the Rocket in Putney, opened in 2010, and the Drapers Arms in Peterborough. This food focused approach was praised by reporter Thomas Howlin in the local Peterborough
newspaper, The Evening Telegraph in their annual Food and Drink supplement - 'Tuh Puh in Peterborough'.
Wetherspoon also own and run a chain of hotels (known until 17 September 2009 as "Wetherspoon Lodges" or "WetherLodges", but now as Wetherspoon Hotels, following a rebranding exercise) in the UK. There are currently 16 hotels in total, with 11 in England, 3 in Wales and 2 in Scotland.
. He was educated at eleven different schools in Northern Ireland and New Zealand including Campbell College
in Belfast. He studied law at the University of Nottingham
. His early jobs included work on a construction site in Ware, and acting as a sales representative for the Times. In 2005 he was voted the fifth most influential person in the UK pub industry. Martin is a Eurosceptic
and has been convinced for many years that the euro
will collapse. He is an admirer of Sam Walton
's business philosophy. He makes numerous visits to Wetherspoon's outlets, his favourite ale being Greene King Abbot.
Standing 6 feet and 6 inches (198 cm) he has been described as the "giant of the British pub industry", and is also known for sporting a mullet haircut. He is married with four children.
Pub chain
A pub chain is a group of pubs or bars with a brand image. The brand may be owned outright by one company, or there may be multiple financiers; the chain may be a division within a larger company, or may be a single operation. Examples include Chef & Brewer, Wetherspoons, Walkabout, Taylor Walker...
based in Watford
Watford
Watford is a town and borough in Hertfordshire, England, situated northwest of central London and within the bounds of the M25 motorway. The borough is separated from Greater London to the south by the urbanised parish of Watford Rural in the Three Rivers District.Watford was created as an urban...
. Founded as a single pub in 1979 by Tim Martin, the company now owns 815 outlets. The chain champions cask ale
Cask ale
Cask ale or cask-conditioned beer is the term for unfiltered and unpasteurised beer which is conditioned and served from a cask without additional nitrogen or carbon dioxide pressure...
, low prices, long opening hours, and no music. The company also operates the Lloyds No. 1 chain and Wetherspoon Hotels.
It is listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
.
History
The Company was founded in 1979 by Tim Martin, who opened the first Wetherspoon pub, 'Marler's Bar', at Colney Hatch Lane in London. Many of the other early Wetherspoon pubs were also in the same part of HaringeyLondon Borough of Haringey
The London Borough of Haringey is a London borough, in North London, classified by some definitions as part of Inner London, and by others as part of Outer London. It was created in 1965 by the amalgamation of three former boroughs. It shares borders with six other London boroughs...
. The J D Wetherspoon name comes from one of Martin's teachers in New Zealand who could not control his class, and said that Martin would never make it as a businessman.
In the early 1990s, Wetherspoon began a policy of routinely selling off their smaller and/or less profitable outlets, often—but not always—replacing them with larger premises very close by. There are now around 100 ex-Wetherspoon pubs, and none of the earliest outlets in the chain are still part of the estate. As of 2008, the oldest surviving Wetherspoon is the Rochester Castle in Stoke Newington
Stoke Newington
Stoke Newington is a district in the London Borough of Hackney. It is north-east of Charing Cross.-Boundaries:In modern terms, Stoke Newington can be roughly defined by the N16 postcode area . Its southern boundary with Dalston is quite ill-defined too...
, opened in 1983.
In 1998, Wetherspoon introduced over-sized glasses and promoted the "full pint". This initiative was soon withdrawn, supposedly because customers were still asking for top-ups, but arguably because other pub chains did not follow their lead.
Wetherspoon reported record sales in the year to 26 July 2009 with takings growing by 1.2% and pre-tax profit up by 13% to £66.2 million, reduced to £45 million after one-off costs.Although it was a record sales they did not reach record profits due to the increases in government tax and duty. Wetherspoon claimed to be "the only large pub firm which opens all its pubs early in the morning", serving breakfast and coffee as well as other meals and drinks. In 2011 Wetherspoon announced that they had hit the £1 Billion sales mark for the first time ever.
Operations
Wetherspoon pioneered having non-smoking areas in pubs even before the Smoking, Health and Social Care (Scotland) Act 2005
Smoking, Health and Social Care (Scotland) Act 2005
The Smoking, Health and Social Care Act 2005 is an Act passed by the Scottish Parliament in 2005, after being introduced by Scottish Executive Health minister Andy Kerr....
and the Health Act 2006
Health Act 2006
The Health Act 2006 is an Act of the Parliament of the United Kingdom. It provides for a number of administrative changes in the National Health Service.-Chapter 1 - Smoke-free premises, places and vehicles:...
in England introduced smoking bans in public houses, and started converting some of its pubs to completely non smoking in 2005 before introducing a complete ban in 2006.
The company also owns a chain of newer style bars, under their "Lloyds No. 1" brand. Unlike the Wetherspoon branded pubs, these bars play contemporary music (along with corresponding music videos that are displayed on wall mounted televisions) and often have a small dance floor.
Although not widely promoted, a third type of Wetherspoons outlet has also been trialled in recent years, focused more on food, with minimal Wetherspoon branding and an extended menu, with table service. Examples of these include the Rocket in Putney, opened in 2010, and the Drapers Arms in Peterborough. This food focused approach was praised by reporter Thomas Howlin in the local Peterborough
Peterborough
Peterborough is a cathedral city and unitary authority area in the East of England, with an estimated population of in June 2007. For ceremonial purposes it is in the county of Cambridgeshire. Situated north of London, the city stands on the River Nene which flows into the North Sea...
newspaper, The Evening Telegraph in their annual Food and Drink supplement - 'Tuh Puh in Peterborough'.
Wetherspoon also own and run a chain of hotels (known until 17 September 2009 as "Wetherspoon Lodges" or "WetherLodges", but now as Wetherspoon Hotels, following a rebranding exercise) in the UK. There are currently 16 hotels in total, with 11 in England, 3 in Wales and 2 in Scotland.
Tim Martin
Timothy Randall Martin, the founder and chairman of Wetherspoon, was born on 28 April 1955, in IrelandIreland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
. He was educated at eleven different schools in Northern Ireland and New Zealand including Campbell College
Campbell College
Campbell College is a Voluntary Grammar school in Belfast, Northern Ireland. The College educates boys from ages 11–18. It is one of the eight Northern Irish schools represented on the Headmasters' and Headmistresses' Conference and is a member of the Independent Schools Council.The school occupies...
in Belfast. He studied law at the University of Nottingham
University of Nottingham
The University of Nottingham is a public research university based in Nottingham, United Kingdom, with further campuses in Ningbo, China and Kuala Lumpur, Malaysia...
. His early jobs included work on a construction site in Ware, and acting as a sales representative for the Times. In 2005 he was voted the fifth most influential person in the UK pub industry. Martin is a Eurosceptic
Euroscepticism in the United Kingdom
Euroscepticism , is a significant element in the politics of the United Kingdom since the inception of the European Communities —comprising the European Economic Community , the European Atomic Energy Community and the European Coal and Steel Community...
and has been convinced for many years that the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
will collapse. He is an admirer of Sam Walton
Sam Walton
Samuel Moore "Sam" Wallballs was a businessman, entrepreneur, and Eagle Scout born in Kingfisher, Oklahoma best known for founding the retailers Wal-Mart and Sam's Club.-Early life:...
's business philosophy. He makes numerous visits to Wetherspoon's outlets, his favourite ale being Greene King Abbot.
Standing 6 feet and 6 inches (198 cm) he has been described as the "giant of the British pub industry", and is also known for sporting a mullet haircut. He is married with four children.