Overview
- Executives have opened talks with potential advisers about a disposal of roughly a quarter of the 4,300‑site estate, according to the reports.
- One option under review is selling the assets in several blocks rather than as a single package.
- The pubs in scope comprise the 1,034‑site “platinum” portfolio, carved out via a £638 million securitisation with Apollo.
- The group is carrying more than £3 billion of borrowings stemming from its 2019 merger with Ei after an earlier sale attempt in 2023 failed.
- Stonegate posted a £214 million loss in 2024 as rising interest and labour costs hit the sector, and Fitch downgraded its rating to CCC+ in August.