All Bar One owner Mitchells & Butlers has confirmed around 1,300 jobs have been axed as it revealed the pandemic sent it plunging to a £123 million annual loss.
The pubs giant laid bare the extent of the recent redundancies as annual results showed the hefty annual losses for the year to September 26 from pre-tax profits of £177 million the previous year.
Mitchells & Butlers, which also owns brands including Harvester and Toby Carvery, said the outlook was dependent on the Government’s restrictions to contain the pandemic.
It said: “The future will remain both challenging and highly uncertain with the duration and depth of the trading restrictions imposed on the hospitality sector in response to the Covid-19 pandemic being, in the first instance, the primary determinant of our financial performance.”
Phil Urban, chief executive of Mitchells, said: “Throughout a very uncertain and challenging year our businesses and teams have adapted quickly, creating a safe environment for guests and putting us in a strong position to benefit when consumers are able to eat out again.
“We saw direct evidence of this from a strong trading period in July and August before further restrictions came into force.”
“We remain optimistic that we will be able to regain the momentum previously built and continue to achieve sustained market out-performance when the current operating restrictions are eased,” he added.
