Beloved 300-year-old pub taken over by pro footballer suddenly SHUTS as owners admit ‘our industry is dying’
PUNTERS are fuming after a beloved 300-year old pub taken over by a pro-footballer was suddenly shut down.
The owners of the Golden Lion, in Magor, South Wales, announced the devastating closure and said “our industry is dying”.
The sad revelation was made on the boozer’s Facebook page before they shuttered it on March 12.
In their statement, they said: “The pub industry is dying in its current form, and we fear pubs will see more and more closures unless something drastically is changed.”
The owners promised to keep all their current bookings.
If this isn’t possible they will provide a refund or transfer to their other venue, The Rose Inn.
They also reassured the public: “All staff and suppliers will be settled in full, and we are looking to relocate staff to other venues.”
One local said: “Spent many happy years in this pub with Russell.”
Another added: “This is so sad, l hope someone can open it again soon.”
“The brewery put the prices up, rent up, national wage going up, national insurance going up, they can’t make it pay,” added a third.
It marks the second pub closure in the area, sparking fear from residents they will no longer have a local watering hole.
One wrote: “Such a shame. I guess Magor cannot support two pubs.”
“I hope The Rose at Redwick manages to survive, they were bought as a package with the Portskewett and the Lion,” agreed someone else.
The Golden Lion was previously shut down in 2023 but reopened a few months later under new ownership.
Iain Jackson and Darren Jones took over the pub with visions to create a steak house.
Former professional footballer Mr Jones had three spells at Newport County AFC.
He joined forces with Mr Jackson whilst he was general manager at the Queen’s Hotel.
Mr Jackson had worked successfully as a chef at the Priory Hotel, Rougemont School and Queen’s Hotel, and the Custom House.
The former football pro told the South Wales Argus at the time: “We’ve been interested in the Golden Lion for some time and we know how loved it is as a pub in Magor and the surrounding area, and how devastated the community was when it closed.
“The history of the pub is important, but we also want to see it flourish tin the future and that is why we have decided to reopen as a steak house.
“We think there is a gap in the market, with nothing like what we are doing in the local area. In fact, you probably have to travel to Cardiff or Bristol to experience what we will be delivering at the Golden Lion.
“We think people will really like what we have planned as it will be something new and different for the area.
“We still want to be the local village pub, but with a fantastic grill to complement the bar.”
This comes after a pub elsewhere closed down after 160 years as the owner said trading became “unsustainable”.
East London hotspot, The Gun, has closed with immediate effect, despite the old school pub being hugely popular with locals.
Meanwhile, around six pubs shut their doors for good every week last year, leading to an estimated 4,500 job losses, according to the British Beer and Pub Association (BBPA).
The closures come amid pressure from higher borrowing costs and high energy bills for businesses, alongside a continued squeeze on household finances as mortgage and rent costs increase.
Pubs are set to come under further pressure when a raft of cost increases linked to the October Budget, such as higher National Insurance contributions (NIC), and an increase in the minimum wage, come into force in April.
Employers currently pay NICs for most workers earning more than £9,100 a year.
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.”
The latest data means that the number of pubs in England and Wales dropped from 47,613 in 2019 to 45,345 in 2024, the BBPA said.
What is happening to the hospitality industry?
By Laura McGuire, consumer reporter
MANY Food and drink chains have been struggling in recently as the cost of living has led to fewer people spending on eating out.
Businesses had been struggling to bounce back after the pandemic, only to be hit with soaring energy bills and inflation.
Multiple chains have been affected, resulting in big-name brands like Wetherspoons and Frankie & Benny’s closing branches.
Some chains have not survived, Byron Burger fell into administration last year, with owners saying it would result in the loss of over 200 jobs.
Pizza giant, Papa Johns is shutting down 43 of its stores soon.
Tasty, the owner of Wildwood, said it will shut sites as part of major restructuring plans.