Stonegate denies hiring Wetherspoon executives

Sources at Stonegate Pub Company have dismissed industry rumours that the company has poached Wetherspoon executives Paul Harbottle and Keith Down.

The rumour suggested that the pair, who announced their departure from Wetherspoon today, were joining Stonegate, which is currently without a head office executive team.

A source close to the company indicated that industry veteran Ian Payne is filling the de facto role of executive chairman while talks about a possible merger with Town & City Pub Company are "on-going".

Stonegate's deal to buy 333 wet-led pubs from Mitchells & Butlers (M&B) completes next month and there is an agreement in place for M&B to provide transitional management for nine months after.

Pub managers at the 333 pubs are currently attending one of three roadshow meetings with Stonegate management to discuss plans for the future.

A source said: "The meetings are going very well — the managers are all very keen.

"There's a feeling that they've been slightly "out of it" at M&B because their pubs are wet-led.

"Managers are likely to get more operational latitude than is the case now."