Wetherspoon’s is starting to plan for a reopening of its pubs and hotels ‘in or around June’, the company has announced.

All pubs and restaurants in the UK have been closed since prime minister Boris Johnson announced a national lockdown on March 23.

Wetherspoons boss Tim Martin has previously spoken out about it, saying it would be ‘over the top’ to close pubs during the pandemic.

Three days before the lockdown was announced, he claimed: ‘There’s hardly been any transmission of the virus within pubs.’

In an after-hours stock market announcement today, the business said that the fact their pubs were large could help if people needed to physically distance as the lockdown is lifted.

They said: ‘The company is likely to make some changes to its operating model, assuming increased social distancing, and anticipates a gradual recovery in customer numbers.

‘Wetherspoon pubs are substantially larger than average, and most have outside facilities. The company believes these factors are likely to assist if social distancing measures apply.’

Mr Martin also revealed the Government’s business rates holiday has saved his firm around £60 million and he is looking at applying for a Bank of England loan for large companies.

However, the loan may not be possible due to Wetherspoon’s not being an ‘investment grade’ business on some measures, the company said.

To stem the flow of cash leaving the company, shareholders will also be tapped up for around £141 million through a fundraiser by issuing new shares.

The 43,000 workers across 874 pubs received around 80% of their salaries in March, despite the boss previously warning workers they would not be paid until Government funds had reached Wetherspoon’s accounts.

In an after-hours statement, the company added that sales in the six weeks to March 8 increased 3.2%, but fell 4.5% in the week to March 15, with Prime Minister Boris Johnson announcing a full lockdown a week later.

Bosses said they are implementing an ‘extensive set of measures to protect profit and cash’ putting its pubs and hotels into ‘hibernation’.

New pub openings have been put on hold and are not expected to restart until 2022, with around five a year from then.

Mr Martin’s firm also revealed it has paid suppliers due at the end of March, with 83% paid in full and extended payment terms agreed with a number of larger suppliers.

However, the majority of rents due in March were deferred.

The founder said he will take a 50% voluntary pay cut, along with chief executive John Hutson, other directors have agreed to similar cuts.

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