Subscribe to trusted local news
In a time of both misinformation and too much information, quality journalism is more crucial than ever. By subscribing, you can help us get the story right.
- Subscription costs less than £1 a week with an annual plan.
Already a subscriber? Log in here.
01
Dec
Black Sheep Brewery owner comments on reports it's about to enter administration
The company which owns Black Sheep Brewery has filed a notice of intention to appoint administrators.
Keystone Brewing Group, which owns the Masham-based brewery, confirmed that it had made the move as a “protective measure” as it seeks new investment and a potential sale.
The move comes as media reports emerged over the weekend that the company intended to bring in administrators amid a difficult trading period.
However, in a statement issued through Black Sheep’s social media accounts, the firm said Keystone Brewing is trading as normal.
It said:
You may have seen several headlines or rumours that Keystone Brewing Group has gone into administration. Let us be clear, that is not the case.
We have filed a notice of intent to appoint an administrator, which is a protective measure that allows us to keep trading as normal while we secure new investment or explore a potential sale.
It gives us the breathing space we need to protect our people, our brands and our customers. We’re still brewing. We’re still delivering. We’re still here.
London investment firm Breal Capital acquired the brewery from administration in May 2023 for £5 million. Breal later rebranded to Keystone Brewing Group.
At the time, administrators Teneo Financial Advisory revealed sales at Black Sheep fell from £19 million in 2019 to £14 million in 2022 – resulting in a £1.6 million loss.
A total of 376 creditors were owed nearly £3 million at both the brewery and its retail arm BSB Retail Limited.
Now, the brewery finds itself at the centre of financial difficulties at its new owner Keystone Brewing.
The group, which also owns Fourpure, Purity Brewing Company, and UK distribution rights to Hofmeister, employs around 190 staff.
According to reports, administrators from FRP Advisory are expected to be appointed if the company can find no viable solution to its financial difficulties.
0