Inside The Lamb & Flag Picture: Savills/St John s College The Lamb & Flag (Oxford) Limited took over the management of the pub in 1997 to use the profits generated to fund scholarships for graduate students. The students on the scholarships will not be impacted by this decision and the scheme will continue for now, with funding provided directly by the college. Steve Elston, deputy bursar of St John’s College, said: “The Lamb & Flag, like many other businesses in the hospitality industry, has been hard hit by the pandemic. Despite the best efforts of the staff and looking at every option to keep it open, the trading figures of the last 12 months have meant that the pub is not currently financially viable.