Wyot wrote:
An oasis for alcoholics on low or no income and nightshift workers wanting a pint on the way home....
You may well be right - but some aspects of Wetherspoons are intriguing and somewhat difficult to rationalise.
Despite being closed for virtually the past year, their share price (and thus, value) has risen by over 50% over the past 6 months. No other LSE company can say the same.
When pubs are shutting down permanently everywhere, Wetherspoons plan to open 20 new ones shortly - and to refurbish hundreds of others, at a cost of £145 million.
Always innovative though. For example - smoking ban, before imposed by the government; distancing before covid, no standing at the bar; no music, so that customers can hear each other; etc., etc.
Easily to denigrate - because of some customer demographics - but (as is clearly the case) - the darling of investors and institutions.
Wetherspoons found a tired British pub industry wanting - and gave the market what was needed - whilst allowing the public to fund it, through a PLC.