The 17 Stonegate pubs in Leeds city centre as company issues update on £2.2bn black hole

The company behind 17 Leeds city centre pubs has issued an update on its £2.2bn debt.

Earlier this year, Stonegate Pub Company announced that its parent company TDR Capital was seeking to refinance a £2.5bn black hole.

The business is one of the largest pub companies in the country, now behind more than 4,500 sites including chains Be At One and Slug and Lettuce.

Back in January, GMB Union warned that the pubs the company operates, including dozens in Leeds, could be “at risk”. And this week, the Guardian reported that Stonegate was “struggling” to pay off the remaining debt mountain of £2.2bn.

In a statement released to the Yorkshire Evening Post, chief executive of Stonegate Pub Company, David McDowall, said venues were not at risk during the refinancing process.

He added that the company saw “significant increase in profitability” last year.

Mr McDowall added: “We have been very clear that we continue to work towards achieving our long-term balance sheet goals, with the successful refinancing of a portion of our estate in December marking a significant strategic step towards this.”

Here are the 17 Leeds pubs and bars owned by Stonegate Pub Company, in light of the update.

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