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Major UK Pub and Bar Chain Considering Sale of More than 1,000 Venues
Stonegate aims to reduce £3 billion debt by selling over 1,000 top pubs in the UK, valuing the package at about £1 billion, as part of a transformation plan.
- Reports say Britain’s biggest pub group is considering the sale of 1,000 sites worth 1 billion, focusing on its platinum portfolio of 1,034 pubs in the United Kingdom.
- Stonegate Group's debt stems from a merger with Ei and a £638 million loan from Apollo, with a non-call period ending in January.
- Savills is handling marketing after Stonegate put 23 pubs up for sale in September this year, and advisers say the portfolio could be sold in groups of hundreds rather than a single disposal.
- A company spokesperson said, `We are looking at options for the Platinum portfolio, of circa 1,000 Leased and Tenanted pubs, which could include a refinancing, partial sale, or full sale of the Platinum sites but as we explained to our bondholders, no decisions have been made`, and pubs are operating normally.
- After previous sale attempts, the group, owned by TDR Capital, reported a 214 million loss last year amid industry pressures.
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Total News Sources20
Leaning Left5Leaning Right2Center4Last UpdatedBias Distribution46% Left
Bias Distribution
- 46% of the sources lean Left
46% Left
L 46%
C 36%
R 18%
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