A well-known brewery and pub chain has revealed its decision to shut down numerous bars, resulting in the loss of jobs for hundreds of employees. BrewDog, despite being acquired by a US company in a £33 million deal, will be closing 38 locations across the UK. The brand fell into administration earlier, disappointing its crowdfund investors.
Tilray Brands acquired various assets from BrewDog, including its global brand, intellectual property, UK brewing operation, and 11 pub venues in the UK and Ireland. Notably, nine bars in London, nine in Scotland, and the DogHouse hotel in Manchester are among the establishments set to close.
The company’s 18 franchise bars will remain operational, with 733 jobs in the UK transitioning to Tilray. BrewDog’s notable brews like Punk IPA and Elvis Juice will continue production under the new ownership. The closure of the pubs was part of the transition process following the acquisition deal.
Founder James Watt engaged in discussions to secure a potential takeover, but uncertainties within the business raised concerns among equity holders, including those part of the “equity for punks” initiative. Administrators confirmed that these investors will not receive any returns from the deal.
Clare Kennedy from AlixPartners expressed satisfaction with Tilray as the buyer, emphasizing their commitment to BrewDog’s legacy. Tilray is also in talks to acquire BrewDog assets in the US and Australia. The future of BrewDog looks promising under the new ownership, focusing on craft beer excellence and sustainable growth.
Unite, a union representing hospitality workers, condemned the closures as a “devastating day” and vowed to seek justice for affected members. Sharon Graham, Unite’s general secretary, criticized the treatment of BrewDog employees, stating they deserved better respect than being deemed expendable.
