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In the first half of 2024, 305 pubs closed in England and Wales, with experts warning of further closures due to rising taxes and the end of business rates relief. The hospitality sector is urging government action to prevent more closures as costs continue to escalate.
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Tim Martin, CEO of Wetherspoon's, has criticized proposals to limit pub licensing hours and replace pints with smaller schooners. He argues that such measures would push drinking to unregulated environments. Wetherspoon's reported a 73.5% profit increase, highlighting a shift in beverage preferences at pubs, with non-alcoholic drinks gaining popularity.
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UK pub chains Marston's and Wetherspoons have reported varying sales growth amid ongoing economic pressures. Marston's saw a 4.8% rise in like-for-like sales, while Wetherspoons closed 26 pubs despite an 8% sales increase. Both companies are adjusting their strategies in response to market conditions.