Almost 150 pubs in Surrey and Hampshire, many in Waverley, including popular pubs in Farnham, Haslemere, and Alfold, are at risk of closure, says the GMB union.
Private equity parent company TDR Capital seeks to refinance £2.5 billion debt amassed by the pub company Stonegate.
The GMB warns that increased interest payments on this massive debt could lead to the loss of many Stonegate community pubs in East Hampshire and Waverley, including the Three Horseshoes in Cranleigh.
Cranleigh could lose two pubs. The new owners of The Cranley – formerly the Cranleigh Hotel have applied for planning permission to turn the dilapidated building into residential flats overlooking the cricket common.
In Waverley
- Three Compasses, Dunsfold Road, Alfold
- Wheatsheaf, High Street, Bramley
- Three Horseshoes, 4 High Street, Cranleigh
- Golden Fleece, Farnham Road, Elstead
- Nelsons Arms, 50 Castle Street, Farnham
- Royal Arms, 172 Farnborough Road, Farnham
- Slug & Lettuce Farnham, 9–11 East Street, Farnham
- The Sandrock, Sandrock Hill Road, Farnham
- Elm Tree, 14 Weybourne Road, Farnham
- Barley Mow, Tilford, Farnham
- Volunteer Godalming, 5 Wharf Street, Godalming
- Swan Inn, 15 High Street, Haslemere
- Bricklayers Arms, The Green, Shamley Green
Gary Lindsay, boss of TDR Capital, which also owns supermarket giant Asda, told the Business and Trade Select Committee on Tuesday, January 9, that he was ‘confident’ £2.6 billion of debts in the Stonegate Pub Company could be refinanced this year.
However, with current high-interest rates, GMB Union is concerned refinancing could lead to crippling payments to service the debt,
Stonegate is one of the largest pub companies in the UK, with more than 4,500 pubs and more than 19,000 workers, including brands like Slug and Lettuce, Yates and Walkabout.
I sincerely hope that the 3 Horseshoes in Cranleigh survives, it’s a fantastic village pub that serves excellent food, as well as wines and beers.
If we lose our village pubs, we lose part of our souls.