Three Islington pubs saved from closure after buyout
A trio of popular pubs has been saved from closure after the company that owned them went bust.
The Famous Cock Tavern, in Highbury Corner, the Nags head, in Islington High Street and the Vineyard, In Upper Street, will all carry on pulling pints thanks to a buyout by the Stonegate pub company – saving more than 50 jobs in the process.
The company, whose portfolio includes the Slug and Lettuce, Scream pubs and Yates, say the boozers will continue trading as normal but it is too early to tell if they will eventually change.
Toby Smith, chief executive of Stonegate Pub Company, said: “We are delighted to have concluded the purchase of these London pubs and welcome the teams who work within them to Stonegate. They are fantastic sites with great potential and we are particularly pleased that with this deal we can secure the jobs of over 1600 people nationally too.”
Stonegate won’t say how much the pubs cost, but the move is part of a deal for 78 pubs across the country reported to be worth £35million.