NewsPubs and Bars

Stonegate Pub Company to continue business support

Stonegate Pub Company has announced its continued business support within its leased and tenanted business and Ei Publican Partnership in response to the government’s new Covid-19 tier system.

The additional support will include credits of 90% for rent, “tie release fees and fixtures” and fitting rental charges for all tied publicans “operating substantive agreements” in England, in Tier 3.

For pubs in Tier 2, the support will reportedly increase from the previously committed “tiered credit” of 50% to 65% for rent, tie release fees and fixtures and fittings rental charges.

Additionally, for pubs in Tier 1, support will remain at the “tiered credit” of 20% for rent, tie release fees and fixtures and fittings rental charges.

Stonegate reiterated that it has supported its publicans with rent reductions and trade credits since pubs were forced to close in March.

The company said it has also “suspended its annual price review” which was due to take place last month, meaning that publicans can continue to operate on tied drinks prices that were last increased in April 2019.

The group added that it has also continued to utilise its scale as a “managed operator” and only recently extended its special pricing promotion on wines, spirits and minerals until the end of December.

Nick Light, managing director of Ei Publican Partnerships, said: “Despite the growing concerns across hospitality that our sector continues to be subject to disproportionate government restrictions, we remain immensely proud of our publicans’ efforts to quickly adapt their businesses in order to provide a safe and welcoming environment.

“It also makes it all the more frustrating that so many of them remain unable to trade at the most important time of the year.Standing by our publicans, securing and protecting their futures, therefore remains our main priority which is demonstrated by the continuous financial support we have provided since the first lockdown in March.”

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