Sir Tim Martin comes out swinging after JD Wetherspoon compared to Amazon, Sports Direct and P&O Ferries
Sir Tim Martin has come out swinging after his pub giant JD Wetherspoon was branded a ‘crappy’ employer along with “the likes of Amazon, Sports Direct, P&O Ferries”.
The chain issued a statement to the London Stock Exchange hitting back at an interview published in The Telegraph at the weekend with the head of the Trades Union Congress (TUC), Paul Nowak.
In the interview, Nowak argued that the new Labour government would make “crappy employers” pay the price for bad behaviour and that they were “all anti-union employers who have built their business models on low-paid insecure, employment”.
In response, Sir Tim said: “If people in powerful positions, such as Paul Nowak, make serious allegations, which have absolutely no basis in fact, it will deter business investment in the UK.
“Investment is a primary generator of growth which, as the Chancellor of the Exchequer has recently said, is the number one objective of the government.”
Wetherspoon said that the statements it is “a c—- employer” and has built its “business model” on “low-paid insecure employment” were “completely inaccurate and unjustified”.
The company pointed to it being recognised as a Top Employer for 19 years, certified by the Top Employers Institute and that its staff retention is at its “highest ever level”.
Wetherspoon also said that since 2007 it has paid £504m to employees in free shares and bonuses.
For its most recent financial year, Wetherspoon posted a revenue of £991m, up from £916m, and a pre-tax profit of £36m, an increase from £4.6m.
Earlier this week, Sir Tim said the firm was gradually recovering from pandemic-linked setbacks, with record sales in the second quarter despite the soaring price of a pint.
The chain reported a 5.8 per cent year on year increase in sales in the 10 weeks to July 7, with year-to-date sales up by 7.7 per cent year on year.
“The gradual recovery in sales and profits, following the pandemic, has continued in the current financial year,” Sir Tim said. “Total sales are, again, at record levels, with fewer pubs.”