The pub's unusual name comes from the massive wooden spars that comprise the framework that keep it standing. These were salvaged from the many shipwrecks that occurred at regular intervals along the coast, and used in building the pub in the 1650s.
However, the building wasn't originally intended to be a pub. Over the years, it has served as a tin-mining warehouse, chandlery, a sail-making loft and a fish-cellar, before being turned into a hotel in the 20th century. It now stands as a glorious pub and B&B.