A number of Derbyshire pubs owned by Stonegate Pub Company – including The Burlington in Chesterfield and Belper’s Green House – could be “at risk”, the GMB union has warned.
The union claims parent company TDR Capital is seeking to refinance £2.5bn of debt.
Justin Bowden, GMB regional secretary, said: “The position with the Stonegate Pub Company’s finances is lacking in transparency, with the ultimate holding company based in the Cayman Islands.
“TDR Capital must be accountable to local people and they have a duty to safeguard 4,500 pubs which are vital community assets. GMB’s experience with private equity owners has been, and continues to be, wholly negative.
“We fear for the future of our local supermarkets and pubs in the hands of their private equity owners.”
Stonegate is one of the largest pub companies in the UK, with over 4,500 pubs and more than 19,000 workers.
A spokesperson for Stonegate said: “We continue to invest in our pubs and our people, in particular supporting local pubs which play such a key role in their communities.
“Our pub business remains very resilient despite the challenges our industry faces, with good like-for-like sales growth across the group.
“Following our recent successful financing announced in December as well as strong recent trading, we are well placed to deliver on our longer term objectives and we are very confident in our ability to re-finance at the appropriate time.”
Gary Lindsay, boss of TDR Capital – which also owns supermarket giant Asda – told the Business and Trade Select Committee on Tuesday, January 9 he was ‘confident’ that £2.6 billion of debts in the Stonegate Pub Company could be refinanced this year.
A list of ‘at risk’ pubs across Chesterfield, Derbyshire and the Peak District, according to GMB, can be found below.
1. ‘At risk’ pubs
GMB has warned that a number of pubs in Chesterfield and Derbyshire could be ‘at risk.’ Photo: Brian Eyre/Jason Chadwick
4. The Britannia, Old Hall Road, Brampton
The Britannia, Old Hall Road, Brampton. Photo: Google