New pub partner wanted to take over Slug & Lettuce Newbury

The UK’s biggest pub group is seeking a new partner to run its Slug & Lettuce bar in Newbury town centre.

Stonegate is reportedly planning a major restructure which could see 150 jobs cut as it struggles to refinance its growing £3bn debt pile.

The group, which owns the Slug & Lettuce chain, told newburytoday the Newbury venue is transitioning to its leased and tenanted division and will be reopening once a new publican has taken over.

An advert on its website said it is looking for a “driven and experienced (self-employed) operator” who can manage both wet and dry sales under a turnover lease agreement – where a tenant pays a portion of their turnover rather than a fixed monthly or annual fee.

The tenancy also comes with a two-bedroom flat and a bedsit for live-in staff.

All operators must have a personal licence allowing them to sell alcohol.

The bar opened in Wharf Street following a £450,000 refit nearly 10 years ago.