More than 4,500 Stonegate pubs could be at "risk", as parent company TDR capital looks to pay off £2.5 billion of debt - according to GMB Union.

The Solihull-based firm operates around 4,800 managed, leased and tenanted pubs including the Gauntlet in Kenilworth.

Gary Lindsay, boss of TDR Capital which also owns supermarket giant Asda, told the Business and Trade Select Committee on Tuesday 9 January he was "confident" £2.6 billion of debts in the Stonegate Pub Company could be refinanced this year.

Last year Bloomberg reported Stonegate - which is behind Slug and Lettuce and Be At One - was to sell 1,000 of its venues.

TDR capital completed a £1.3 billion takeover of rival Ei before the pandemic to become the largest pub company in the UK.

The chain also operates the Varsity at University of Warwick, the Oak in Baginton and a host of venues in Leamington Spa.

Justin Bowden, GMB Southern Regional Secretary, said: "TDR Capital must be accountable to local people and they have a duty to safeguard the 650 local pubs which are vital community assets."

Veronica Bennett and her two daughters - who have run The Lion on Warwick Road for six years - took over The Gauntlet in September. The pub remains open for business.

Download our Mobile App!