Reports from GMB Union that more than 600 Stonegate pubs are at risk of closing are 'misleading'

In a report sent out today the GMB Union said as it predicted earlier this year – and despite private equity owner TDR’s assurances to a parliamentary select committee in January - Stonegate says there is no guarantee it can continue as a going concern, as it struggles to refinance a £2.2bn debt mountain.

Stonegate is one of the largest pub companies in the UK, with more than 4,500 pubs and more than 19,000 workers, including brands like Slug and Lettuce, Yates and Walkabout.

The chain has 605 pubs across Yorkshire including in Balby, Hatfield, Thorne, Conisbrough, Mexborough, Rossington, Adwick-upon-Dearne and many more.

However Stonegate has retaliated and a spokesman said: “We are really pleased with the performance of the business in 2023, which included a sector-leading Christmas trading period.

"We have delivered a rise in revenue and a significant increase in profitability. We have been very clear that we continue to work towards achieving our long-term balance sheet goals, with the successful refinancing of a portion of our estate in December marking a significant strategic step towards this. We would also like to assure our employees and partners that no venues are at risk as a result of this process.”

“TDR Capital has been and continues to be a supportive investor in Stonegate - developing the business over the last fourteen years into the UK’s largest pub company with 4,500 great venues across the country.”