Three Islington pubs saved from closure after buyout
- Credit: Archant
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.
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John Cryne, north London branch chairman of the Campaign for Real Ale (CAMRA), said: “If Stonegate’s intentions are honest, and we have no reason to think they are not then CAMRA welcomes the fact that a big operator has shown confidence in three pubs in the area and intends to run them as pubs, selling beer and all the other paraphernalia.
“We hope they operate successfully, attracting customers and such like.
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“I know the Famous Cock, which has four or five ales and does a good food trade. People like it for the football and it’s right on top of the Tube station. If a pub there can’t succeed we might as well all go home.
“It’s good news for drinkers and pub users in Islington – hopefully the are in safe hands. It’s much better than bemoaning the closure of yet another pub in the area.