Fears for Slug & Lettuce and Be At One as owner scrambles to plug more than ... trends now

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Concerns have been raised over the future of the Slug & Lettuce and Be At One chains as the owner scrambles to plug more than £2billion in debts.

Stonegate Pub Company, which has a network of 4,400 UK pubs, has warned of a 'material uncertainty', which casts doubt on the company's ability to continue.

It comes as the latest blow to the UK's biggest pubs group, which previously announced plans to sell 1,000 pubs to pay off a £2.6billion debt accumulated during Covid.

Now, the company says it has not yet agreed on new loans to replace the £2billion debt which is due for repayment in June 2025. 

Bosses said in the annual report: 'Whilst there is a plan in place for refinancing this debt, as at the date of signing the financial statements there is a risk that exists over the completion of this exercise.'

It went on: 'Since the refinancing plans haven’t been executed, there is an indication that a material uncertainty exists that may cast significant doubt on the Company and Group’s ability to continue.'

This means the group 'may be unable to realise their assets and discharge their liabilities in the normal course of business.'