12 Glasgow pubs could close, including The Ark, Missoula and more, union warns
Several beloved Glasgow pubs and bars could close, a union has warned.
GMB claimed that almost 50 Stonegate venues across the country are at risk of shutting after the company issued a profit warning.
They own several spots in the city.
Here is the full list:
Home, Albion Street
Three Judges, Dumbarton Road
The James Tassie, Kilmarnock Road
The Bank, Clarkston Road
The Old Smiddy, Old Castle Road
The Ark, North Frederick Road
Missoula, West George Street
Popworld, West George Street
The Merchant, West George Street
Felson's, Renfield Street
Walkabout, Renfield Street
The Hogwait, St James' Road
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, dozens of much-loved pubs across Scotland are in serious danger of pulling their last pint.
“It’s a disgrace.”
A Stonegate spokesperson 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.”