A popular cocktail bar and pub in Farnham is up for grabs – and another popular village pub has closed its doors, after a pub giant’s debt troubles began to bite.

The Slug and Lettuce bar on East Street and The Barley Mow in The Sands near Farnham are both owned by the Stonegate Group, one of the largest pub companies in the UK.

But their futures, and that of hundreds of others in the region, are uncertain after it was warned in January that increased interest payments on Stonegate’s £2.5 billion debt could lead to the loss of many pubs.

Stonegate is advertising new fixed-term tenancies for the Slug and Lettuce in Farnham and the Barley Mow as part of plans to safeguard its business.

But while the Slug and Lettuce has been allowed to remain open, metal sheeting has been erected over the doors and windows of The Barley Mow.

Other pubs owned locally by Stonegate include The Golden Fleece in Elstead and The Nelsons Arms, The Sandrock, and The Elm Tree in Farnham.

According to the Stonegate website, Farnham’s Slug and Lettuce venue has a capacity of up to 200 customers, a town centre location with a kitchen and a courtyard beer garden with 55 external covers.

Yearly turnover at the Slug and Lettuce is forecast at £516,180 and the rent is £653 per week. It includes two self-contained flats, one a two-bed with lounge, kitchen, and bathroom and the second a one-bed with the same facilities.

By comparison, forecast turnover of The Barley Mow is £371,725 per year and the guide rent is £673 per week. It comes with a three-bedroom private apartment above the pub, and offers the “opportunity to become a community hero”, says Stonegate.

Villagers have already launched a campaign to Save the Barley Mow.