JD Wetherspoon is expecting all of its 872 pubs to remain closed until at least the end of March amid fears the lockdown will continue into the spring.
The pub giant made the admission while announcing their plans to issue new stocks to secure a £92 million cash boost.
Wetherspoon said it was currently paying £4.1 million each week while the sites have been ordered to remain closed.
That's despite 99 per cent of its 37,674 employees currently being furloughed and more than 6,000 redundancies since the start of March - including at its head office and airport sites.
The chain, whose HQ is in Watford, Hertfordshire, has multiple pubs located across the county.
None of their pubs have been allowed to open in 2021 so far.
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The bosses warned that they are currently working on the assumption that will be the case until the end of March, and it could take until 2022 to return to the normal trading levels in 2019.
In a separate announcement to the stock market, JD Wetherspoon said it plans to raise between £92.1 million and £93.7 million by issuing 8.4 million new shares.
The iconic pub chain said it believes it has the cash reserves to last until the end of the current financial year without securing another loan through the Government's Coronavirus Large Business Interruption Loan Scheme.
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Tim Martin, chairman of Wetherspoon, said: “The Covid‐19 outbreak is having a severe impact on the UK pub sector.
“After a number of false starts, the hospitality industry generally anticipates a return to more normal trading patterns in the spring and summer, as a result of the introduction of a mass vaccination programme.
“The equity placing announced today will help the company, along with the other actions it has taken, to emerge from the pandemic in a strong position.
“Very many thanks to everyone at the company, and also to its shareholders, suppliers, landlords and banks, for their support and commitment.”
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