Future of Newbury's Diamond Tap pub undecided after takeover

Stonegate Pub Co insists no decision has been made about branding for Cheap Street bar

THE new owner of Newbury's Diamond Tap pub insist that no decision has been made about its future.

Stonegate Pub Company has exchanged contracts with Wetherspoons and work is currently underway to debrand the Cheap Street bar before its reopening tomorrow (Wednesday).

It says it will reopen the pub with a brand new menu, real ales and music whilst considering "how best to use significant investment to secure the pub’s long-term future".

And despite several sources suggesting it would open as Yates, Stonegate says this has not been decided yet.

Stonegate also owns the Slug and Lettuce and Walkabout brands, as well as Yates and several other bars.

Speaking about the purchase, Stonegate Pub Company's chief executive, Simon Longbottom, said: “We have a strong track record in buying and investing in pubs – and the teams within them – enhancing the offer, and enabling them to thrive under our ownership.

"We are big believers in securing the future of high street and community pubs. In the meantime it’s a huge welcome to the pub’s team and loyal customers whom we look forward in continuing to serve.”

Stonegate Pub Company, which owns 700 pubs, employs more than 15,000 staff nationwide.