Stonegate's Pub Model Shift: From Managed to Tenanted – Lessons for Property Owners Stonegate Group, Britain's largest pub operator, is aggressively converting managed houses to tenanted and leased models to tackle its £3.2 billion debt mountain, reveals The Sunday Times [ https://www.thetimes.com/business/companies-markets/article/stone-gate-pubs-debt-boss-turnaround-xqhspj5n3 ]. (April 19th 2026) According to the article, the number of managed pubs fell from 674 to 544 last