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Here’s a full list of the pubs and bars the group owns in Stoke-on-Trent and North Staffordshire
A major chain with pubs and bars across Stoke-on-Trent and Staffordshire is considering selling more than 1,000 of its venues. The move would see the firm part company with almost one in four of its 4,300 sites.
Stonegate Group, the owner of Slug and Lettuce and Reflex brands, has confirmed it is “looking at options”. It was first reported by The Times that Stonegate’s management has been in discussions with potential advisers.
The report suggests that 1,034 of its ‘platinum’ pubs could be put up for sale, with a combined value of up to £1 billion.
Among the pubs Stonegate owns in the Potteries include The Market Tavern in Hanley, The Talisman in Tunstall, and Slug and Lettuce, Relex and Yates in Newcastle.
Despite turning over more than £1.7 billion last year, Stonegate has debts exceeding £3 billion. Much of this debt was accrued through its 2019 acquisition of Ei Group, which occurred just months before the Covid-19 pandemic forced pubs to close nationwide.
A spokesperson from Stonegate told the Mirror: “We are looking at options for the Platinum portfolio, of circa 1,000 Leased and Tenanted pubs, which could include a refinancing, partial sale, or full sale of the Platinum sites but as we explained to our bondholders, no decisions have been made. We are continuing to make good progress on our transformation strategy.”
In 2023, Stonegate attempted to sell a similar number of its pubs, but the sale was unsuccessful.
Following this, the pub group refinanced 1,000 venues with a £638 million loan from private equity firm Apollo. The period during which Stonegate is prevented from selling the pubs – known as the non-call period on this loan – is set to end in January.
Stonegate was established in 2010 when private equity firm TDR Capital bought 333 pubs from Mitchells and Butlers for £373 million. In September this year, the company put 23 of its pubs up for sale, with estate agents at Savills overseeing the sale process.
This came after reports in The Telegraph that the pub giant had been working with restructuring specialists from AlixPartners. A spokesperson for Stonegate said at the time: “As the UK’s largest pub company, we regularly review our portfolio for divestment opportunities. This package being marketed by Savills is a business-as-usual transaction.”
In other pub news, Tim Martin, the head of Wetherspoons, recently announced his intention to ‘keep price increases to a minimum’ after the company posted revenues totalling £2.13 billion for the year. Speaking to PA news agency, Tim Martin stated that ‘some prices are inevitable when taxes go up’ in relation to the wider pub industry, but assured that Wetherspoon would ‘try very hard’ not to raise its own prices.
According to the Mirror, he added: “The company currently anticipates a reasonable outcome for the financial year, although Government-led cost increases in areas such as energy may have a bearing on the outcome.”
Stonegate pubs and bars in Stoke-on-Trent and North Staffordshire
- Market Tavern Hanley
- Reflex Hanley
- Green Star Smallthorne
- Village Tavern Wolstanton
- Terrace Stoke
- George & Dragon Newcastle
- Reflex Newcastle
- Slug & Lettuce Newcastle
- Yates Newcastle
- Talisman Tunstall
- Lucky Penny Stafford
- Coach and Horses Stafford
- The Yard Stafford
- Grapes Hotel Stafford
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