Some of Brighton's favourite pubs at risk as Asda owners seek to refinance £2.6 billion debt
Stonegate Ltd, owned by Asda financial backers TDR Capital, must guarantee the future of these community assets, says GMB union
GMB, the union for hospitality, are demanding an urgent guarantee from TDR Capital that any refinancing of their Stonegate Group’s £2.6 billion debts will not entail closing any of the chain’s 4,500 pubs.
A list of 39 pubs, bars and clubs within Brighton and Hove owned by the group may be, GMB believes, used as bargaining chips in any refinancing.
GMB is speaking to members about how these huge debts impacting the pubs themselves.
A meeting is scheduled for GMB's Hove Office at which affected members can raise their concerns.
The full list of Stonegate’s pubs within Brighton & Hove are:
- Argyle Arms
- Bar Broadway
- Barley Mow
- Battle Of Trafalgar
- Be At One Brighton
- Blind Busker
- Blue Anchor
- Bow Street Runner
- Charles Street Tap
- Coopers Cask
- Crescent
- Curzon
- Daddylonglegs
- Druids Arms
- Eddy
- Foundry
- George Street Tap
- Golden Cannon
- Hove Park Tavern
- Martha Gunns
- Nevill
- New Oak
- Popworld Brighton
- Preston Brewery Tap
- Queen Victoria
- Roundhill
- Shortts
- St George
- St James Tavern
- Stags Head
- The Black Horse
- The Downs Hotel
- The Great Eastern
- The Kings Arms
- The Railway Bell
- The Station
- The Village
- Walkabout Brighton
- Wellington
The union, which also represents Asda workers, has previously locked horns with TDR Capital, who are co-owners of Stonegate as they are co-owners of the supermarket giant.
Justin Bowden, GMB Regional Secretary said:
“GMB knows all about this company from taking them on with Asda, and they are categorically not to be trusted.
“The company is based in the Cayman Islands with zero transparency and we need a concrete guarantee that these pubs and their many hundreds of jobs, including many GMB members, are safe.
“Asda workers will know our track record of taking on and defeating large employers and we will have no problem flexing our muscles against another of TDR Capital’s assets.
“The pub sector is already struggling and we will not allow these profiteers to hike prices – like they did at the Asda petrol stations – and run off with the profits, leaving nothing but a mess behind them.”
