The New Inn in Shalfleet closed its doors on Sunday (4th January), with the pub to remain closed until further notice.
The pub, which is part of the Stonegate Group, was taken on by The Goldstones in July 2024. Since then, significant time, energy and personal investment has been poured into the venue in an effort to make it a go-to destination.
However, taking to their Facebook page, the team has now confirmed that despite loyal support from customers and the hard work of staff, the business could not continue in the current business model.
In a heartfelt statement, they said:
“Unfortunately, despite our best efforts and the loyal support of our customers, it has become clear that the current business model is not a viable one for us. Put simply, the numbers do not stack up in a way that allows the pub to be run sustainably under the existing arrangements.
“We are incredibly grateful to everyone who has supported us along the way – your kindness, encouragement, and custom have meant more than we can properly express. Sadly, even with that support, it has not been enough to make the business work long-term.”
This has not been an easy decision, but it is an honest one, and it comes after careful consideration and exhausting every option available to us.
The team also paid tribute to their staff, singling out Bar Manager Ross, Head Chef Dan, and community events coordinator Michelle for their contributions.
It is currently unclear what the future holds for the venue.
In another blow to the hospitality trade in the West Wight, The Sun Inn at Hulverstone will close on 18th January.
Labour government crippling small businesses. This will be the tip of the iceberg for the near future .Buisness rates up wages up energy costs up alcoholduties up. Liebor out now and maybe a nice picture of Wrigley Quigley smiling with the owners saying look what labour have done for you. I’m back to Westminster with my 95k salary see you later.
Meanwhile, the head ***ker, Starmer, is in Paris committing our young to Conscription to serve?? as peacekeepers in Ukraine. WHO VOTED FOR THAT?
Back in the pigyard that Britain has now become, Milipede is doing his utmost top destroy oil and gas that we should be using to keep us warm, whilst flogging useless ground source heat pumps and Electric Cars which nobody wants.
Can’t wait for May when the socialist scum, will be wiped out in Wales and possibly Scotland and Starmer will be gone to live with his “friend” – Ali.
Still there won’t be any open when Reeves as finished.
Prices were too high for average people. Too posh to nosh
Head chef, bar manager, community events coordinator. Big titles for a small pub. The winning formula is to look at your competitors and then do it better.
Sad but true.
Once upon a time a kingdom with a large working population was plodding along steadily. Each member of the population had an orange that was supplying its needs .Then one day Rachel from accounts said I am going to squeeze your oranges harder so most people threw away their oranges because Rachel was going to give them more juice for free even if she had to borrow that juice from somewhere else and pay interest. STOP SQUEEZING OUR ORANGES.
Pubcos, eg Stonegate, lure inn unsuspecting tenant landlords, often with an initial ‘bond’ (their life savings) with the clause that they have to spend that on upgrades, decor, fittings etc and then when trade is up from zero to whatever, increase the ‘wet rent’ as well as the premises rent. It makes it virtually impossible to turn a profit and then when the landlords money runs out and they can’t pay the rent, get turfed out.
Absolutely nothing to do with any government; it’s a well-known capitalist practice.
At last, someone with professional insight who can cogently explain the problem. It is so easy to say “it is all the government’s fault” when in fact it is usually some fatcat trying to screw small businesses for a few more quid they don’t need and on which they won’t pay tax.
All going to plan.
The plan is to crush all small businesses and it’s
happening.
All part of the new world order.
The government isn’t helping, but the main blame lies with greedy, money-grabbing breweries and owning companies, of which Stonegate is a significant repeat offender, because they bleed their tenants dry.