The Waleswood started out as a Mappin's pub . Mappins Masborough Brewery was taken over by Stones in 1954, and the brewery was closed. Through various takeovers the pub would eventually fall into the hands of Bass Charrington.
Despite proudly displaying a Cellar Master's Choice Cask Ales sign, this does not appear to have been enough to save the Waleswood.
After being boarded up for quite some time it re-opened in 2002 as a Chinese Restaurant.
Many thanks to Dave, a long time regular, for supplying the information and photograph.