Stonegate Pub Company has announced further business support
within its leased and tenanted business, Ei Publican Partnerships,
in response to the Prime Minister’s announcement on Saturday that
hospitality venues in England must close from Thursday 5 November
until Wednesday 2 December 2020.
The additional support includes rent credits of 90% for rent,
tie release fees and fixtures and fittings rental charges for all
tied publicans operating substantive agreements in England, during
the four-week lockdown period.
This financial support has created an overall package from the
Company worth in excess of £42.5 million.
Nick Light, Managing Director of Ei Publican Partnerships, said:
“We continue to stand by our publicans, and we are taking the
responsibility of supporting our businesses very seriously as the
trading landscape continues to change.Once again, the hospitality
industry is being told to bear the financial brunt of further
regulations in the Governmentâ€™s response to COVID-19.
To further support its businesses, Stonegate Pub Company has
also suspended its annual price review meaning that publicans
continue to operate on tied supply prices that were last increased
in April 2019. It has also continued to utilise its scale as a
managed operator to extend various promotions to its tied tenants
on selected products for Halloween and the run up to Christmas.
Nick continued: â€œThe Governmentâ€™s decision at the weekend to
also not allow alcohol to be part of any takeaways from pubs yet
permit the purchasing of alcohol from supermarkets and delivery
services is a double standard. The British Beer and Pub Association
has estimated that over 70 million pints of beer were poured down
the drain in March, given the short notice this time, there will be
huge amounts of further wastage, if the Government does not change
To date, Stonegate Pub Company has continuously supported its
businesses with rent reductions and trade credits since pubs were
forced to close for the first time back in March. The Company
continues to lobby Government for further tailored support for
hospitality across the UK.
About Stonegate Pub Company
Following the acquisition of Ei Group on 3rd March 2020 for
Â£1.27bn, Stonegate Pub Company is the largest pub company in the
UK. Its portfolio is comprised of 1270 sites within
the managed division and 3200 leased and tenanted businesses.
The managed pubs division, which employs 17,000 people, is split
into Branded and Traditional pubs. Branded is comprised of: Slug
& Lettuce, Walkabout, Be At One and Venues. Traditional
(unbranded) pubs is made up of: Proper Pubs, Town Pub &
Kitchen, Classic Inns, Common Room, Craft Union and Bermondsey Pub
Press release from Leisure PR on behalf of Stonegate Pub
For more information, contact [email protected]