Stonegate: 45 pubs across pubs face closure as per GMB union

Unions have warned company Stonegate’s 45 venues in Buckinghamshire could be at risk after it said there was no guarantee it could continue as it struggles to refinance a £2.2bn debt.

Stonegate is behind brands including The Elephant And Castle in Amersham, Greyhound Inn, Chalfont St Peter and the George & Dragon in West Wycombe and countless local boozers. The firm is based in the Cayman Islands and is owned by private equity firm TDR Capital, which also owns brands including Asda.

Nadine Houghton of the GMB union said: “TDR bosses are private equity gamblers - playing fast and loose with people’s jobs and lives.

“When their risky ventures go wrong, they swan off to their next project, leaving workers and communities to pick up the pieces.

“Now, hundreds of much-loved pubs across the North East are in serious danger of pulling their last pint.

“It’s a disgrace.”

Local pubs across the region could be at risk of closing if Stonegate fails to secure funding.

The GMB has written to Liam Byrne MP, chair of the Business and Trade Committee in parliament, asking him to summon TDR bosses before the committee.

Appearing before that committee in January TDR COO Blair Thompson said: “We are in the process now of taking appropriate actions to extend the debt load on that business.

“It is important to bear in mind that this is a business that has grown significantly since it was formed 10, or 13 years ago when we first put it together.

“But it would be unfair of us to ignore the fact that for the thick end of 18 months, that business was closed completely. So, during covid, hospitality businesses like Stonegate were completely closed, and as a result, that had negative effects on the cash flows and profitability of that business, which we are now taking active steps to remedy and mitigate.”

But as that is yet to happen Stonegate said earlier this month: “Since the refinancing plans haven’t been executed, there is an indication that a material uncertainty exists that may cast significant doubt on the company and group’s ability to continue as a going concern.”

The firm is yet to agree new loans to replace debt due to be repaid in June 2025. Talks with potential lenders are underway, The Guardian reports.

Pubs at risk of closure according to GMB Union

• The Feathers, Kingsbury Square, Aylesbury HP20 2HZ
• The Elephant And Castle, 97 High Street, Amersham HP7 0DT
• Greyhound Inn, High Street  Chalfont St. Peter, Gerrards Cross SL9 9RA
• Earl Howe, 11 Earl Howe Road, Holmer Green  High Wycombe HP15 6PU
• Old Oak, New Pond Road, Holmer Green  High Wycombe HP15 6SX
• The White Lion, White Lion Road  Amersham HP7 9LJ
• Red Lion, Elm Road, Penn, High Wycombe HP10 8LF
• The Stag & Hounds, Church Road Iver,SL0 0RW
• Whip And Collar, 135 Swallow Street, Iver, SL0 0HU
• Oak & Saw, Rectory Road, Taplow, Maidenhead SL6 0ET
• Royal Standard, Wooburn Common Road, Wooburn Green, High Wycombe HP10 0JS
• The Rose & Crown,Desborough Road High Wycombe HP11 2PR
• George & Dragon, High Street, West Wycombe  High Wycombe HP14 3AB
• Stag, 91 Heath End Road Flackwell Heath  High Wycombe HP10 9ES
• Green Dragon 241 Blind Lane  Flackwell Heath  High Wycombe HP10 9LD
• Three Horseshoes The Common  Flackwell Heath  High Wycombe HP10 9PG
• Three Horseshoes Wycombe Road Marlow SL7 3RA
• White Lion Cryers Hill Road, Cryers Hill, High Wycombe HP15 6JP
• Mayflower, 193 Penn Road  Hazlemere  High Wycombe HP15 7NE
• Duke Of Cambridge, 19 Queens Road, Marlow SL7 2PS
• The Old Brewery, 84 High Street, Marlow SL7 1AX
• The Two Brewers, St. Peter Street, Marlow SL7 1NQ
• Prince Of Wales 1 Mill Road Marlow SL7 1PX
• Bird In Hand 81 West Wycombe Road High Wycombe HP11 2LR
• Fleur De Lis The Common  Stokenchurch  High Wycombe HP14 3TZ
• Old Bell Town Lane, Wooburn Green  High WycombeHP10 0PL
• Yates High Wycombe 46a-50 Frogmoor, High WycombeHP13 5DG
• The Golden Cross Wycombe Road, Saunderton, High WycombeHP14 4HU