Stonegate pubs face closure in Scotland as company issues profit warning

Dozens of much loved pubs across Scotland in serious danger of pulling their last pint, warns GMB Union

Almost 50 Stonegate pubs across Scotland could close after the company issued a profit warning.

As GMB predicted earlier this year – and despite private equity owner TDR’s assurances to a parliamentary select committee in January – Stonegate says there is no guarantee it can continue as a going concern, as it struggles to refinance a £2.2bn debt mountain. 

Stonegate is one of the largest pub companies in the UK, with more than 4,500 pubs and more than 19,000 workers, including brands like Slug and Lettuce, Yates and Walkabout. 

The chain has 45 pubs across Scotland

GMB has written to Lian Byrne MP, chair of the Business and Trade Select Committee, asking him to recall TDR bosses in light of the profit warning. 

Nadine Houghton, GMB National Officer, 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, dozens of much loved pubs across Scotland are in serious danger of pulling their last pint. 

“It’s a disgrace.”