A union has warned that hundreds of Stonegate pubs in the north west are at risk of closure – but the pub company insists business is booming.

Stonegate said the union's claims are misleading adding it is ”pleased with the performance of the business in 2023” insisting that no venues are at risk of closure

GMB Union, a general trade union in the UK, said more than 350 Stonegate pubs across the north west could close after the company issued a profit warning.

According to the union, parent company TDR Capital is seeking to refinance “a £2.2billion debt mountain”.

Stonegate is one of the largest pub companies in the UK, with more than 4,500 pubs and more than 19,000 workers, including brands Yates and Walkabout. 

The chain has 362 pubs across the north west, including The Brown Cow, Bee Hive Inn, Farthings, and the Witton Inn, in Blackburn.

GMB has written to Liam Byrne MP, chair of the Business and Trade Select Committee, asking him to recall TDR bosses in light of the apparent profit warning. 

Nadine Houghton, GMB National Officer, said: "TDR bosses are private equity gamblers - playing fast and loose with people’s jobs and lives. 

“When their risky ventures go wrong, they swan off to their next project, leaving workers and communities to pick up the pieces. 

“Now, hundreds of much-loved pubs across the North West are now in serious danger of pulling their last pint. 

“It’s a disgrace.” 

A spokesperson for Stonegate, said: “We are really pleased with the performance of the business in 2023, which included a sector-leading Christmas trading period. We have delivered a rise in revenue and a significant increase in profitability.

“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. We would also like to assure our employees and partners that no venues are at risk as a result of this process.

“TDR Capital has been and continues to be a supportive investor in Stonegate - developing the business over the last fourteen years into the UK’s largest pub company with 4,500 great venues across the country.”

TDR Capital declined to provide an official comment.