The parent company of Masham’s Black Sheep Brewery has filed another notice of intention (NOI) to appoint administrators, in a fresh attempt to keep the business on life support.

Keystone Brewing Group, which also owns Hofmeister and several other brewers, including Leeds-based North Brewing Co, Huddersfield-based Magic Rock and Warwickshire’s Purity Brewing Co, filed three previous NOIs in late 2025.

These documents signal an intent to enter administration to rescue a struggling business – effectively a plea for help – and provide protection from immediate liquidation.

The company is wrestling with the same challenges faced by firms across the alcohol industry and hospitality sector. High taxes, rising costs and changing consumer habits are causing pubs to shut and suppliers to fight for a share of a shrinking market.

At the time of the first NOI filing, Keystone Brewing Group said it was simply a “protective measure” that allowed the business to “keep trading as normal” while it secured “new investment or explore[d] a potential sale”.

The group employs about 190 staff across its brewery sites, including about 50 in Masham.

Black Sheep Brewery was founded in 1992 by Paul Theakston, a member of Masham’s Theakston brewing family. He left his family's business, T&R Theakston, to start his own independent brewery, becoming the “black sheep” of the family – hence the brewery’s name.