Britain’s Largest Pub Owner to Sell Off a Thousand Pubs
Britain’s largest pub group is planning to sell around 1,000 of its pubs as the on-premise pub business in the U.K. continues to struggle.
Stonegate Pub Company, currently Britain’s largest pub group is reportedly looking to sell roughly one fifth of its total portfolio.
The pub business (and hospitality sector in general), still struggling from the pandemic lockdowns and inflation has been hit hard recently with steep price increases on energy and price hikes from breweries. The British government recently announced that it will scale back support for businesses with energy bills after warning that the current level of help was too expensive.
The higher cost of drinking and the burden of inflation on consumers has caused a downturn in pub business as many in Britain turn to drinking less to save money.