'Challenged' Sheffield pub firm True North sells three sites to secure its future
“This has not been an easy decision, but it is a necessary step to secure the long-term future of our company”
A top Sheffield pub company has sold three venues to stabilise the business during “some of the most challenging trading conditions in recent memory”.
True North Brew Co has sold two Sheffield pubs - The Old Grindstone in Crookes and The British Oak, in Mosborough - as well as The Milton Arms in Elsecar, Barnsley.
The business is left with nine sites including the Forum and Abbeydale Picture House, and a gin distillery.
Kane Yeardley, owner of True North Brew Co., said the hospitality sector continued to face some of the most challenging trading conditions in recent memory due to rising costs and economic pressures.
He added: “This has not been an easy decision, but it is a necessary step to secure the long-term future of our company. We are committed to supporting our teams through this transition and ensuring our remaining venues continue to thrive.”
The sell-off comes three years after the firm fell into administration due to the cost of living crisis.
It immediately bounced back in a ‘pre-pack sale,’ allowing the firm to drop its debts but preserve 325 jobs and stay in business.
The Old Grindstone and The British Oak were snapped up by Punch Pubs & Co, which said they would both get a “lick of paint.”
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They would be run by the existing publicans before joining Punch’s managed partnership estate, it added.
Andrew Cannons, of Punch, said both sites had a “great reputation” and would continue to thrive with Punch’s training and support.
True North Brew Co now has nine venues including The Broadfield, Waggon and Horses, The Riverside, Punch Bowl and The Common Room in Sheffield and Crown & Anchor and True North Bar in Barnsley.
It also makes gin but paused beer production in September 2025 following the departure of long-standing head brewer, Dean Hollingworth.