The boss of JD Wetherspoon admitted that the pub chain had “reached the limits” of its rapid expansion as a higher wages bill hit profits.
The FTSE 250 company’s pub openings hit a peak of about 100 a year in the early 2000s. That has since cooled, with analysts predicting between 5 and 10 this year.
Tim Martin, Wetherspoon founder and chairman, said: “It is inevitable that going that from one to nearly 1,000 pubs, there will be reorganisation.
“When property prices were cheaper, we over-invested in some towns, but we’ve gradually been sorting that out. The skill is trying not to fall into the trap of over-expanding."
Tim Martin, chairman of JD Wetherspoon has previously called for Britain to leave the EU without a deal.
In the first half of the year, it opened two new pubs and closed six, bringing…