Stonegate Pub Company has announced continued business support within its leased and tenanted business, Ei Publican Partnerships, in response to the Government’s new restrictive COVID-19 tier system.
The additional support, which will apply until further notice, includes credits of 90% for rent, tie release fees and fixtures and fittings rental charges for all tied publicans operating substantive agreements in England, in Tier 3. For pubs in Tier 2, the support will increase from the previously committed Tiered credit of 50% to 65% for rent, tie release fees and fixtures and fittings rental charges. For pubs in Tier 1, support will remain at the previously communicated Tiered credit of 20% for rent, tie release fees and fixtures and fittings rental charges.
Nick Light, Managing Director of Ei Publican Partnerships, said: “Despite the growing concerns across hospitality that our sector continues to be subject to disproportionate Government restrictions, we remain immensely proud of our publicans’ efforts to quickly adapt their businesses in order to provide a safe and welcoming environment for their customers.
“It also makes it all the more frustrating that so many of them remain unable to trade at the most important time of the year.
“Standing by our publicans, securing and protecting their futures, therefore remains our main priority which is demonstrated by the continuous financial support we have provided since the first lockdown in March.”
To date, Stonegate Pub Company has supported its publicans with rent reductions and trade credits since pubs were forced to close for the first time earlier this year.
The company also suspended its annual price review last month meaning that publicans continue to operate on tied drinks prices that were last increased in April 2019. It has also continued to utilise its scale as a managed operator and only recently extended its special pricing promotion on wines, spirits and minerals until the end of December.
Stonegate says it is continuing to lobby Government for further business support in its response to the pandemic and the retraction of the current business-stifling restrictions in place