A prominent UK cocktail bar chain has started shutting down venues, with its flagship Bristol site set for a final 'boozy' service this Saturday. The closure marks the end of a 12-year era for the popular Be At One bar in the city.
End of an Era for Bristol's Be At One
The Bristol branch confirmed its closure in a heartfelt email to customers, thanking them for the "wild ride" of the past 12 years. The venue will serve its last drinks on Saturday, December 20th.
"We're closing our doors for the last time," the email stated. "It's been a wild ride and we've loved every second of it. All that's left to do now is thank you for every cocktail shaken, every party thrown and every memory made."
The site is not vanishing entirely but will be transitioning to a Stonegate Pub Partners venue, which is scheduled to open in the new year.
Wider Crisis: Over 1,000 Pubs at Risk of Sale
The single closure is part of a much larger strategic shift by the bar's parent company, Stonegate Group. The giant pub operator, which also owns the Slug & Lettuce chain, is exploring a potential sale of more than 1,000 of its leased and tenanted pubs.
Stonegate operates a total of 4,300 venues across the UK, meaning the planned divestment could see it let go of almost a quarter of its entire estate. According to reports, 1,034 of its "platinum" pubs could be sold, with a collective value estimated as high as £1 billion.
Stonegate's Transformation Plan Amid Heavy Debt
The move forms part of a major "transformation plan" spearheaded by Stonegate's chief executive, David McDowall, aimed at returning the company to profitability. The group's financial position is under significant pressure, with debts exceeding £3 billion despite achieving a turnover of more than £1.7 billion last year.
A company spokesperson clarified the situation: "We are looking at options for the Platinum portfolio, of circa 1,000 Leased and Tenanted pubs, which could include a refinancing, partial sale, or full sale of the Platinum sites but as we explained to our bondholders, no decisions have been made. We are continuing to make good progress on our transformation strategy."
Stonegate also operates Be At One and Slug & Lettuce bars in other major cities, including Birmingham, where it has venues in Brindleyplace and the city centre.
