Stevenage bar saved from closure after rival company sale

The Proverbial in Stevenage

The Proverbial in Stevenage - Credit: Archant

A popular bar and restaurant has been saved from closure after being sold to a rival pub company today (Friday).

The Proverbial, in Stevenage Old Town, is one of 78 pubs across the UK sold by the Bramwell Pub Company, who have entered administration, to rival Stonegate in a deal worth an estimated £35 million.

Stonegate chief executive Toby Smith said: “We are delighted to have been able to secure a large number of fantastic sites across the country, such as Stevenage’s The Proverbial, and we are looking forward to welcoming our new colleagues to the company.”