Greene King plans to sell up to 150 pubs in March and shift 300 pubs into a separate division, with half becoming leased or tenanted and half marked for disposal, according to CEO Nick Mackenzie. Mackenzie blamed the decision on soaring costs and changing consumer behaviour. He said that long-term permanent reform from government is essential to ensure that unprecedented costs do not hold back the sector's potential.
He also noted that the cost environment over the past five years, including increased employment costs and cost of goods due to events like the Ukraine war, has been challenging. Mackenzie called for business rates reform, saying the current system is unbalanced for the sector. Stonegate sold 109 pubs in the last year as part of its 'estate transformation strategy' towards leased pubs, the company said.
81 billion. Revenues for the three months to January were £476 million, down from £505 million year-on-year. Stonegate CEO David McDowall said 2025 was a pivotal year for the company, laying the foundations of its transformation strategy, and that reshaping the estate is a core pillar.
6% increase in revenue to approximately £2 billion. The company has deployed an AI-powered virtual assistant named 'Charlie' to handle telephone calls at some pubs, a spokesperson confirmed. The spokesperson said the company has been trialling the AI conversational voice assistant in select pubs and restaurants to leverage digital capabilities and drive efficiencies.
According to the government, pubs will be allowed to stay open late for the summer World Cup, providing a boost to the sector. However, the exact number of pub closures across the UK in the last year remains unclear, as does the specific list of pubs Greene King will sell or lease.