A historic pub in London has closed after 160 years due to “unsustainable” trading conditions, just days away from Rachel Reeves’ incoming tax raid on small businesses.
The Gun, a boozer popular with music lovers and diners, has shut its doors with immediate effect.
The landlord Nick Stephens and Hanna-Sinclair Stephens were unable to keep the pub open, despite a revamp in 2013 that restored many of the building's original Victorian features.
The intimate Homerton pub, with a capacity of just 90, quickly became a hit with locals.
However, when Covid lockdowns began, the pub suffered and it was only through the generous efforts of a GoFundMe campaign that the boozer was able to stay afloat.
In just one day, the east London pub received over £30,000 in donations.
Sadly, the pub was once more put into financial difficulties thanks to the rising costs of running a hospitality business.
On March 16, The Gun called last orders. Commenting on The Gun's closure Nick Stephens said: “The Gun has faced many challenges over the years, and despite our very best efforts it has become unsustainable to continue trading.
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“Locals Club would like to extend our warmest thanks to our loyal staff, locals and the many DJs who helped create such a special community at the pub.
“We hope the future brings an opportunity for Locals Club to create another music-led pub in another location.
“For now, we’ll be focusing on our thriving Islington pub, The Compton Arms.”
Pub owners and other small businesses are waiting in anticipation ahead of Reeves’ Spring Budget Statement.
The Chancellor is expected to announce National Insurance (NI) hikes and business rate relief cuts on March 26.
According to a new survey from the London Chamber of Commerce and Industry (LCCI), over half of businesses (51 per cent) believe that the increase in NI contributions will harm their performance.
Last year, around six pubs every week shut their doors for good, according to the British Beer and Pub Association (BPPA)
Emma McClarkin, chief executive of the BBPA, said: "The scale of these closures is completely avoidable because pubs are doing a brisk trade.
“Consumer demand is there, however, profits are being wiped out with sky high bills and pubs are facing yet more rates and costs come April.
“We're right behind Labour’s mission to supercharge growth and can deliver this economic boost across the UK, but only if it is easier for pubs to keep their doors open.
“Government must urgently bring in meaningful business rates reform and phase in new employment costs so pubs can keep boosting the economy, supporting local jobs, and remaining at the heart of communities.”
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The Gun, a boozer popular with music lovers and diners, has shut its doors with immediate effect.
The landlord Nick Stephens and Hanna-Sinclair Stephens were unable to keep the pub open, despite a revamp in 2013 that restored many of the building's original Victorian features.
The intimate Homerton pub, with a capacity of just 90, quickly became a hit with locals.
However, when Covid lockdowns began, the pub suffered and it was only through the generous efforts of a GoFundMe campaign that the boozer was able to stay afloat.
In just one day, the east London pub received over £30,000 in donations.
Sadly, the pub was once more put into financial difficulties thanks to the rising costs of running a hospitality business.
On March 16, The Gun called last orders. Commenting on The Gun's closure Nick Stephens said: “The Gun has faced many challenges over the years, and despite our very best efforts it has become unsustainable to continue trading.
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“Locals Club would like to extend our warmest thanks to our loyal staff, locals and the many DJs who helped create such a special community at the pub.
“We hope the future brings an opportunity for Locals Club to create another music-led pub in another location.
“For now, we’ll be focusing on our thriving Islington pub, The Compton Arms.”
Pub owners and other small businesses are waiting in anticipation ahead of Reeves’ Spring Budget Statement.
The Chancellor is expected to announce National Insurance (NI) hikes and business rate relief cuts on March 26.
According to a new survey from the London Chamber of Commerce and Industry (LCCI), over half of businesses (51 per cent) believe that the increase in NI contributions will harm their performance.
Last year, around six pubs every week shut their doors for good, according to the British Beer and Pub Association (BPPA)
Emma McClarkin, chief executive of the BBPA, said: "The scale of these closures is completely avoidable because pubs are doing a brisk trade.
“Consumer demand is there, however, profits are being wiped out with sky high bills and pubs are facing yet more rates and costs come April.
“We're right behind Labour’s mission to supercharge growth and can deliver this economic boost across the UK, but only if it is easier for pubs to keep their doors open.
“Government must urgently bring in meaningful business rates reform and phase in new employment costs so pubs can keep boosting the economy, supporting local jobs, and remaining at the heart of communities.”
Find Out More...