Doncaster pub at risk as Slug and Lettuce chain looks to sell 1,000 pubs over £2.6bn debt

Bosses at Stonegate, the pub giant which owns the Slug & Lettuce and Be At One chains is ‘eyeing up selling 1,000 venues’ according to reports.

The firm has a Slug and Lettuce branch at Hall Gate in Doncaster city centre.

Bloomberg reports that Stonegate is looking to sell its venues for £800 million after racking up debts of £2.6 billion during the pandemic.

The chain, which is owned by private equity firm TDR capital, completed a takeover of rival Ei before the Covid pandemic - and before the hospitality sector was battered by successive shutdowns.

It comes after fellow pub chain Wetherspoons confirmed that ten of its pubs will be closing for good after being sold.

Wetherspoons also noted that costs were far higher than three years ago, especially for labour, food, energy and maintenance.

Its chairman Tim Martin said: 'The aftermath of the pandemic and lockdown restrictions have been far more difficult than anyone thought. That is the picture for the whole pub and restaurant industry.

'People thought that after lockdown there would be a boom in people suffering from cabin fever but, instead, it has almost been the opposite situation as people have got in the habit of staying in.

'That's the big thing that means sales are down on 2019. Things are improving now but it's slow.'