Stonegate Pub Company has announced further business support within its lease and tenanted business, Ei Publican Partnerships, creating an overall support package, which has been implemented in response to the COVID-19 lockdown, in excess of £36.5 million.
The additional support includes rent reductions of 30% in October and a reduction of 20% in November for tied publicans operating substantive agreements in England. This package follows the rent and credit provisions that Ei gave to publicans from April to September including publicans who were not in receipt of Government grants receiving a three-month rent credit for the period.
Nick Light, Managing Director of Ei Publican Partnerships, said: “The road out of lockdown is a long one and we are standing by our publicans every step of the way to help safeguard their businesses in these uncertain times.”
In July, Stonegate utilised its scale as a managed house operator to offer exceptional promotional pricing for a three-month period for wines, spirits and minerals to its lease and tenanted business. These products are available to all publicans including those contractually tied for one or more of these drinks’ categories. Following positive feedback, this initiative is being extended until the end of November enabling publicans to stock up for the Christmas period.
Nick added, “we are starting to see some real advantages from being part of the Stonegate business and we will continue to look at ways in which our publicans may benefit from that.”
This additional support comes after a wave of tailored support that Stonegate has given to Ei Publican Partnerships in both England and Wales, in response to the COVID-19 lockdown.