Stonegate Pub Company could be forced to close sites across the New Forest and Christchurch, warns GMB Union, as it seeks to refinance debts of £2.6 billion

PUBS across the New Forest and Christchurch are among those at risk of closure, a union is warning, as its owner seeks to refinance debts of £2.6 billion.

Private equity parent company TDR Capital, which owns the Stonegate Pub Company, previously said it was “confident” about its financial situation.

However, the GMB Union is warning the interest payments on the massive debt could lead to the loss of community pubs.

Stonegate has around 4,500 pubs and employs more than 19,000 workers.

In the New Forest these include Forest Inn, Ashurst; Coach and Horses, Cadnam; White Horse, Netley Marsh; Fleur De Lys, Pilley; Compass Inn, Winsor; Gleneagles, Lord Nelson and Travellers Rest, Hythe; Compasses Inn, Damerham; The Crown, Royal Oak and Fighting Cocks, Fordingbridge; Forest Home, Hardley; Crown Inn, Everton; Plough Inn, Tiptoe; Royal Oak, Downton; White Hart, King’s Arms, King’s Head, Chequers, Lymington; The Swan, Waterloo Arms, Lyndhurst; Walker Arms, New Milton; London Tavern, Star Inn, Ringwood; The Keys, Anchor Inn, Totton.

In Christchurch this includes Ye Olde George Inn and the Ship Inn, as well as Lamb Inn, Winkton, and Rising Sun, Purewell.

The union claims huge interest payments on TDR Capital’s debts have already resulted in cost pressures at Asda, resulting in cuts in hours for staff, cutting corners on health and safety and a rise in a toxic culture of bullying and harassment.

GMB southern regional secretary, Justin Bowden, said: “The position with the Stonegate Pub Company’s finances is equally lacking in transparency, with the ultimate holding company based in the Cayman Islands.

“TDR Capital must be accountable to local people and they have a duty to safeguard the 650 local pubs which are vital community assets.

“GMB’s experience with private equity owners has been, and continues to be, wholly negative.

“We fear for the future of our local supermarkets and pubs in the hands of their private equity owners.”