BrewDog creditors owed £190m will not be paid in full, say administrators
Summary
BrewDog, a beer company that collapsed earlier this year, owes its creditors about £190 million but does not have enough money to pay them in full. A US company, Tilray, bought some parts of BrewDog including its brand and UK breweries for £33 million, but many bars closed and hundreds of staff lost their jobs.Key Facts
- BrewDog owes around £190 million to creditors but cannot repay it all.
- Tilray, a US cannabis and drinks company, bought BrewDog’s brand, intellectual property, UK breweries, and 11 bars for about £33 million.
- 38 BrewDog bars closed, and 440 employees lost their jobs.
- 200,000 small investors, called “equity punks,” have lost their investments in BrewDog.
- Some creditors, including the UK government, will not be fully repaid.
- Staff owed nearly £489,000 have been paid through a government scheme for redundancy.
- British businesses such as Lord’s Cricket Ground and Manchester University will receive a very small part of what they are owed.
- BrewDog co-founder James Watt has started new business ventures after BrewDog’s collapse and offered former investors shares in a new beer company.
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