DEVELOPMENTS on the Bears Head could be moving after Wetherspoon’s confirmed a deal has been agreed and an "exchange on the property" could take place this week.

In an updated statement from pub giant Wetherspoon’s on the closure of the Bears Head, a spokesperson told Penarth Times on May 7: “A deal has been agreed and Wetherspoon’s is hoping to exchange on the property this week and set a completion date.

“In the meantime the pub continues to trade as normal.”

Wetherspoon’s revealed to Penarth Times at the end of March the bombshell news they were closing one of Penarth’s most popular pubs; the Bears Head on Windsor Road.

At the time, a spokesperson for the pub chain said: “The Bear’s Head in Penarth will close.

“Wetherspoon has served a break notice on the lease.

“There is no set date on when the pub will close and it will continue to operate as a Wetherspoon pub until its closure date.

“There will be no redundancies – all staff will be offered jobs at other Wetherspoon pubs.”

The closure announcement came weeks after Wetherspoon’s revealed a record jump in profits with pre-tax earnings surging almost eight-fold to £36 million for the year to January, compared with £4.6 million a year earlier.

Penarth Times: The Bears Head will close soonThe Bears Head will close soon (Image: Newsquest)

Penarth Times: Local resident Nick Simmons set up a petition to try save the pubLocal resident Nick Simmons set up a petition to try save the pub (Image: Nick Simmons)

There has been shock from residents at the decision of the pub giant to pull out the town, with the Bears Head considered a popular and busy pub.

One resident, Nick Simmons went as far as to set up a petition he wanted to take to the Senedd to try stop the closure of the Bears Head – a venue he described as part of the social fabric of Penarth.

That petition has reached over 1,100 signatures as of writing.

Despite this, now, old and young, and the large demographic in between who frequent the pub regularly, will have to find another place to get their real ales and meal deals – and one thing’s for sure, they won’t be at Weatherspoon’s prices anymore!

So, who is to move into the Bears Head site?

While the latest statement by Wetherspoon’s hammers home the reality that Bears Head will close, there’s been no news on who is moving in despite apparent agreements having been made.