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02
May 2023
Masham's Black Sheep Brewery to enter administration
Masham’s Black Sheep Brewery has announced it is to appoint administrators.
Last month, the company, which employs about 50 staff, launched a strategic review to explore funding options to develop the business. One option was to sell the company.
However, the firm announced in a trading update on Friday it was “no longer considering the sale of the company”.
Today, in a further statement, the company has announced it is set to appoint administrators.
It said:
Black Sheep, which was founded in 1992 by Paul Theakston, said it had made the decision to “protect the interests of its creditors”.
It added that “no shares will be traded on asset match until further notice” as a result of the move.
It comes as the company appointed Teneo as its financial adviser to support its review in April.
At the time, Black Sheep said it was experiencing good sales volumes of its beers, however there remains a significant constraint on funding due to economic conditions.
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