Slug & Lettuce

Slug & Lettuce is a bar chain known for its extensive cocktail menu and vibrant atmosphere. It is part of Stonegate’s operations, offering a stylish venue for dining and drinks in a relaxed, contemporary setting.

CCI Score

-27.13

0.02% April 18

Latest Event

Stake Transfer Amid Debt Restructuring

Stonegate, the owner of Slug & Lettuce, transferred its stake to one of its lenders as part of a £250 million refinancing deal designed to extend the company's debt obligations until 2029. This restructuring move, though aimed at alleviating financial pressures, shifts control towards creditor interests.

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ACCOMPLICE

Slug & Lettuce is currently rated as an Accomplice.

-20 to -29 CCI Score

These companies profit from authoritarian practices through their business dealings. Although they may not be directly enforcing oppressive policies, their actions contribute to the economic and operational sustenance of authoritarian regimes.

Latest Events

AUG

01

2024

Stake Transfer Amid Debt Restructuring
-9.31

Stonegate, the owner of Slug & Lettuce, transferred its stake to one of its lenders as part of a £250 million refinancing deal designed to extend the company's debt obligations until 2029. This restructuring move, though aimed at alleviating financial pressures, shifts control towards creditor interests.
-10

Economic and Structural Influence

March 29

The refinancing move cedes corporate control to financial institutions, potentially prioritizing profit and creditor interests over employee welfare and community accountability. This consolidation of power may undermine transparency and responsible business practices, raising concerns about the broader economic influence of creditor-led control.

Stonegate owner transfers stake in company over to debtor
APR

10

2024

Debt Crisis Threatens Pub Viability at Slug & Lettuce
-31.09

Stonegate Pub Company, owner of Slug & Lettuce, is facing a major debt refinancing challenge with a £2billion debt pile. The company's annual accounts reveal 'material uncertainty' about its ability to continue as a going concern, raising serious concerns about the future of thousands of pubs and their workers. Additionally, union criticisms point to the opaque private equity ownership structure, heightening fears regarding labor conditions.
-40

Economic and Structural Influence

March 29

The severe debt crisis and refinancing uncertainty at Stonegate Pub Company indicate a significant economic and structural vulnerability. This instability not only threatens the survival of the pub chain but also undermines the broader financial stability that supports worker rights and community services.

Fears for thousands of pubs as Slug and Lettuce owner battles major £2billion debt pile
-30

Labor Relations and Human Rights Practices

March 29

Criticism from the GMB union over the opaque private equity ownership structure underscores concerns regarding labor relations and workers' rights. The potential fallout from the company's financial distress could lead to job losses and diminished protections for employees, reflecting negatively on ethical business practices.

Fears for thousands of pubs as Slug and Lettuce owner battles major £2billion debt pile
FEB

01

2023

Planned Sale and Closure of Venues by Stonegate
-44.53

An article reports that Stonegate, the owner of the Slug & Lettuce chain, is planning to sell off 1,000 venues for £800million in response to a massive £2.6billion debt incurred during the pandemic. This restructuring move raises concerns about potential job losses and broader negative impacts on workers and local communities.
-60

Labor Relations and Human Rights Practices

March 29

The decision to sell off 1,000 venues as part of a financial restructuring is likely to lead to significant job losses and undermine workers' rights. This move reflects a disregard for labor stability and community well-being, harming marginalized workers in the process.

Slug & Lettuce owner 'planning' to sell 1,000 venues
-50

Economic and Structural Influence

March 29

The strategy to offload 1,000 venues for £800million in the context of a sizeable £2.6billion debt highlights an approach focused on asset stripping rather than sustainable investment. This action can exacerbate structural economic issues and contribute to local economic instability.

Slug & Lettuce owner 'planning' to sell 1,000 venues
OCT

18

2017

Health and Safety Breach Leading to Employee Injury
-23.60

On 18 October 2017, at a Slug & Lettuce venue in Colchester, an employee sustained serious injuries when an unsecured cellar hatch fell onto his hand. Investigation revealed that essential safety mechanisms had been removed, leading to significant fines for the parent company and highlighting failures in worker safety protocols.
-50

Labor Relations and Human Rights Practices

March 29

The incident exposed a critical lapse in the company’s duty to safeguard its employees. The removal of essential safety devices resulted in a severe injury, underscoring a neglect of worker rights and safety. Although remedial steps were taken post-incident in conjunction with local authorities, the initial breach reflects poor adherence to labor standards, which is negatively viewed from an anti-fascist labor rights perspective.

Slug and Lettuce safety breach: Pub firm fined after employee injures hand