Stonegate pub and bar chain investigated over ‘unfair’ treatment of landlords
Summary
Stonegate Group, the largest chain of pubs and bars in Britain, is under investigation for possibly treating some landlords unfairly. The investigation focuses on how Stonegate manages rent calculations, repair information, and customer interactions with pub tenants.Key Facts
- Stonegate owns over 3,000 pubs that it leases to landlords, known as “tied” tenants.
- The pubs code adjuicator (PCA) suspects Stonegate may have broken rules meant to protect these tenants.
- Possible issues include not giving correct repair information and not using fair rent estimates based on profits.
- Stonegate’s managers who communicate with tenants are also being investigated for fair treatment and record keeping.
- The PCA’s rules do not apply to Stonegate’s managed pubs, like Be At One and Walkabout.
- Stonegate could be fined more than £16 million if found guilty of breaking the code.
- A recent survey showed Stonegate had the lowest tenant satisfaction rating at 43%.
- Stonegate is owned by private equity firm TDR Capital and reported strong profits recently.
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