A company which has lost control of a Walthamstow pub was on the verge of buying it before it was 'gazumped', it is claimed.

The Chequers in High Street, Walthamstow, mysteriously shut its doors on Friday, only to reopen on Wednesday afternoon under new ownership.

Pub group Antic, which owns the Red Lion in Leytonstone, said it will pursue legal action to reclaim the ownership they believe their contract entitled them to.

Max Alderman, Antic operations director, Max Alderman, said: “To use an old fashioned phrase we were gazumped.

“It’s a great shame for us and annoying to say the least but when you’re gazumped there’s not much one can do about it.

“Sadly the pub’s no longer ours but we are doing everything we can legally to get it back.”

He said he wanted to make it clear Antic had no issue with the new owners as they had acquired the property lawfully.

He declined to name the former owner of the pub.

“We saved his licence and he stuck two fingers up to us,” he added.

It was announced on Twitter on Friday that the pub would not be opening over the weekend due to ‘unforeseen circumstances.’

The new owners, which have not been named, also run The Shacklewell Arms in Dalston, The Three Crowns in Stoke Newington, Pub on the Park in London Fields and The Lock Tavern in Camden.

A spokeswoman said: “The pub is open daily and the new management team aims to carry on trading the pub as your home away from home with a lively vibe in the evenings and a constant stream of good drinks, good food and of course good company."

The unannounced change of ownership came as a surprise to many as Antic had invested a substantial amount of money in a complete refurbishment.

An Antic subsiduary, which managed pubs subject to leaseholds, went into administration earlier this year.

Mr Alderman added: “It’s less about the money and more about the input and passion.

“We put blood sweat and tears into the pub’s design.”

New manager Jo Slasor, who used to manage the Shacklewell Arms, said she had been informed of the move a couple of months ago.

The new owners have been approached for comment.

Before Antic took over The Chequers earlier this year, it was a well known crime hotspot.