The pub group own around 80 pubs and bars in Greater Manchester
Concerns have been raised over the future of thousands of pubs, including 80 in Greater Manchester, after it emerged that the UK's largest pub chain Stonegate is grappling with a huge £2.3bn debt. The group, which owns Slug and Lettuce, also operates more than 4,400 other hospitality venues in the UK, including Be At One and a series of smaller bars - but has warned that there is a risk it might not be able to service its debts.
The report stated: "Since the refinancing plans haven't been executed, 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," reports the Mirror.This means the group "may be unable to realise their assets and discharge their liabilities in the normal course of business". After acquiring Ei Group - formerly known as Enterprise Inns - in 2019 for £1.
Owned by the Cayman Islands-registered TDR Capital, which also owns supermarket giant ASDA, Stonegate Pub Company is linked with several other pub brands such as Frontier Pubs, Six Cheers, and Old Spot.
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