Isle of Wight pubs and a nightclub run by the Stonegate Group could be at risk of closure, a trade union has warned.

GMB Union says the group's parent company TDR Capital is seeking to refinance debt. 

Although TDR boss Gary Lindsay told the Business and Trade Select Committee he was ‘confident’ it could be done this year, the union is concerned it could lead to 'crippling' repayments.

On the Island, Stonegate runs 20 pubs and nightclubs, including Newport's Fever & Boutique, The Hogshead and Slug and Lettuce. It also owns Asda.

GMB claims the effects of interest payments on TDR's debts are evident at the supermarket giant, which the union said is experiencing 'huge cost pressures'.

Justin Bowden, GMB Southern Regional Secretary, said this has led to a vote for staff strike action at supermarket's Gosport tore.

She said: "We have experienced similar problems across the stores in the south of England."

She added GMB has never met with TDR Capital and claims the 'lack of transparency' is 'unacceptable'.

“TDR Capital must be accountable to local people and they have a duty to safeguard the 650 local pubs which are vital community assets", she said.

“We fear for the future of our local supermarkets and pubs in the hands of their private equity owners."

The County Press has contacted Stonegate Group for a comment.