UK pub giant looks to sell 1,000 sites as part of huge debt battle
- Stonegate Group, Britain's largest pub operator, is reportedly considering the sale of approximately 1,000 of its sites, a move that could be worth £1bn.
- The potential sale aims to help the company address its significant £3bn debt, which largely accrued following its 2019 merger with rival Ei, shortly before the Covid-19 pandemic.
- The pubs being considered for divestment are part of Stonegate's 'platinum' collection, a portfolio of 1,034 premium properties that could be sold without impacting the wider business.
- This decision coincides with the upcoming expiry in January of a non-call period on a £638m loan from private equity firm Apollo, which had previously securitised these specific pubs.
- The company, which owns brands such as Slug & Lettuce and Be At One, reported a £214m loss in 2024 amid ongoing challenges for the UK hospitality industry.