Stonegate have reassured customers after GMB Union claimed that seven pubs in Stevenage and North Hertfordshire are at risk of closure.

They said that more than 4,500 pubs run by Stonegate across the UK are "in serious danger of pulling their last pint" after parent company TDR Capital announced that it is seeking to refinance more than £2 billion of debt.

Stonegate pubs include The Drapers Arms, The Old Post Office, Our Mutual Friend and The Man in the Moon in Stevenage, The Rose & Crown in Hitchin, and The Platform and Three Horseshoes in Letchworth.

A spokesperson for Stonegate denied the claims, saying that they are "really pleased with the performance of the business in 2023", with "a rise in revenue and a significant increase in profitability".

They said that "no venues are at risk as a result of this [refinancing] process".

However, earlier this month Stonegate admitted that there is no guarantee it will be able to refinance its debt, stating: "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".


Gary Lindsay, the boss of TDR Capital, which also runs Asda and is headquartered in the Cayman Islands, told the Business and Trade Select Committee he was "confident" that a refinancing of the debt could be agreed this year.

GMB say they have written to Liam Byrne MP, chair of the Business and Trade Select Committee, asking him to recall TDR bosses.

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, hundreds of much loved pubs are in serious danger of pulling their last pint. It’s a disgrace.”