Stonegate Pub Company, which has a network of more than 4,400 UK pubs and bars including the Slug & Lettuce and Be At One chains, said it had not yet agreed new loans to replace debt due for repayment in June 2025.
While talks with potential lenders are understood to be under way, the failure to agree a new facility by the time the company published its annual report left it with no choice but to issue an alert.
Stonegate said: "Since the refinancing plans haven't been executed, there is an indication that a material uncertainty exists that may cast significant doubt on the company and group's ability to continue as a going concern." It said this meant that the group "may be unable to realise their assets and discharge their liabilities in the normal course of business".
Stonegate is domiciled in the Cayman Islands and ultimately owned by TDR Capital, a private equity firm that also owns Asda.
Denne historien er fra April 10, 2024-utgaven av The Guardian.
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Denne historien er fra April 10, 2024-utgaven av The Guardian.
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