Stonegate Pub Partners, the UK's largest pub company, is under investigation by the Pubs Code Adjudicator over alleged mistreatment of tenants who run more than 3,000 of its venues. The scrutiny follows criticism from landlords, including a case in which a publican with worsening Alzheimer's was allegedly left to accrue tens of thousands of pounds in debt over two years while the company was aware of his condition, before being pursued for the money when he finally exited his tenancy.

A survey by the regulator found Stonegate had a tenant satisfaction rating of just 39%, far below rivals such as Admiral Taverns (72%) and Greene King (71%), and even lower than the next-worst operator, Punch Pubs (55%). The company, which also owns Slug & Lettuce, Be At One and Walkabout, is carrying £3.8bn of debt largely from its 2019 acquisition of Enterprise Inns, and has lost £650m over the past three years despite reporting record first-half profits this June. Owned via the Cayman Islands by private equity firm TDR Capital (which also controls Asda), Stonegate continues to face complaints over its "tied" tenancy agreements, under which publicans get lower rent and support in exchange for buying products exclusively from the company.