Stonegate weighs in with additional support

The Stonegate Pub Company has added further support to its existing package to help its leased and tenanted pubs – known as the Ei Publican Partnerships – to reopen.

Now totalling £28m, Stonegate said the package includes rent credit equivalent to 75% for July and 50% for August for “all tied publicans on substantive agreements”.

It also said credits have also been applied to “Tie Release Fees and Fixtures & Fittings rental charges and to assist with future cashflow over the next 12 months” and all rent invoices will now be produced weekly instead of monthly or quarterly.

Stonegate said it was also offering “significant non-contractual discounts” on wines, spirits and minerals for a time, and that the package follows the multi-million-pound rent and credit support that Ei Publican Partnerships provided to publicans from April to June

“We have consistently taken a measured approach to all Government advice during lockdown and implemented our support procedures accordingly,” said Nick Light, MD of Ei Publican Partnerships.

“We will continue to work closely with our publicans, drawing on the expertise of our managed house teams, to ensure they emerge from this crisis as fully prepared as possible and ready to re-commence trading.”

Stonegate also said every pub had been provided with a free restart kit, including PPE, as they start to reopen, plus the launch of a bespoke contactless ordering app.

Following its acquisition of Ei Group on 3 March 2020 for £1.27bn, Stonegate is the largest pub company in the UK, with 1270 managed sites and 3457 leased and tenanted businesses.