Last orders for a Wetherspoons pub?

The pub chain JD Wetherspoon has confirmed that the Cross Keys at Northgate in Peebles is one of seven of its watering holes being put up for sale, in addition to 32 placed on the market back in September.

However, all of the outlets will continue trading until buyers are found.

The impact the pandemic has had on the company is believed to be one of the factors in the decision.

Wetherspoons had reported a £167m loss last year, off the back of consecutive lockdowns. Before the pandemic the company made a profit of £132m.

Company spokesman Eddie Gershon said: “The company does, on occasion, put some of its pubs up for sale. This is a commercial decision. Wetherspoons understands that staff and customers will be disappointed with the decision.”

Paul Breen, director at estate agents Savill, said: “Despite the volatility in the current market interest in the properties which went onto the market in September has been encouraging with terms now agreed for several of the sites. We expect these additional properties to be equally appealing.”

Toby Hall, senior director at Edinburgh-based retail estate agency CBRE, added: “These additional properties are all substantial, well located pubs which are fitted to a high standard. Most of the properties are coming to the market for the first time in many years which should give them a broad appeal to both local and national buyers.”

The latest sales move is not unprecedented.

In 2019 both the Cross Keys and The Bourtree in Hawick were put up for sale before they were taken off the market.

The Cross Keys was formally opened by Tweeddale MP David Mundell in July 2014.

The first Wetherspoons was opened in 1979 in London’s Muswell Hill.

The company is named after one of its founder Tim Martin’s teachers, who told him he would never be a success.