Pub giant Stonegate is set to sell 1,000 of its venues, according to reports by Bloomberg.

The pub chain, which is behind Slug and Lettuce and Be At One, reportedly has a debt pile of £2.6 billion and is aiming to raise around £800 million through the sales.

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

The chain is owned by private equity firm TDR capital and completed a £1.3 billion takeover of rival Ei before the pandemic to become the largest pub company in the UK.

It has not been revealed which pubs will be sold off yet.

Stonegate is also currently advertising for new tenants to come on board and run the Malt Shovel in Ryton on Dunsmore and the Three Horseshoes in Princethorpe.

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

Nub News has contacted Stonegate for comment.