Jobs will be saved at five Ceredigion pubs after the brewery that runs them accepted a rescue bid for its pub estate from a rival.

SA Brains - which runs Lord Beechings, Court Royale, and Scholars in Aberystwyth, as well as The Monachty in Aberaeron and The Penwig in New Quay - has sold its 156 pubs in Wales to Marston’s in a bid to save 1,300 jobs.

At the start of the coronavirus pandemic, Brains announced it would close 40 of its pubs in Wales due to economic certainty, and closed the doors of more than 100 of its pubs last month in the wake of a Welsh Government alcohol ban.

All pubs were forced to close their doors on Saturday as Wales struggles to curb the spread of the virus.

The deal with Marston’s will see the 156 pubs continuing to operate under the Brains brand and sell Brains beer.The deal, expected to be completed in February, will add to the 106 pubs in Wales currently owned by Marston’s , including the Starling Cloud in Aberystwyth, the Saddlers Arms in Cardigan, and White Lion in Talybont.

SA Brains chairman John Rhys, who last month warned that the firebreak lockdown in Wales had cost the 138-year-old company £1.6m, said the deal would secure the future of the pubs and its staff.In a statement to the Stock Exchange, the companies said the deal was needed "to address Brains' immediate funding requirements”.

Mr Rhys said: “This agreement marks the formation of a lasting strategic relationship with Marston's which secures the future of Brains' pubs and 1,300 of our employees within them.

“We know and trust Marston's to be excellent custodians of our pubs and, whilst this is not a decision we have taken lightly, we are confident that both our pubs - and our pubs teams - will thrive under their stewardship.

“Furthermore, this transaction enables Brains to recapitalise its balance sheet and continue its long heritage as an independent entity, preserving this great Welsh business for generations to come.”

Ralph Findlay, chief executive of Marston's, said: “These high-quality pubs are a great fit with our existing estate and will benefit from Marston's scale and operational expertise to further unlock their excellent long-term potential.

“We look forward to the pub teams joining us and to welcoming guests and the communities which they serve, back into these pubs as the country emerges from the pandemic over the weeks and months ahead.”