Excellence deserves to be recognised and celebrated. The 2024 Stray Ferret Business Awards is the event to put your business, people or great initiative in the spotlight!

Make the most of your efforts by reading our top 10 tips for writing your submission for success.

Entries close on January 19, 2024.

Unsecured creditors and HMRC are still expected to receive no money from the administration of Masham’s Black Sheep Brewery.

Both the brewery and its retail arm, BSB Retail, entered administration last year.

At the time, Teneo Financial Advisory, which was appointed to oversee the process in May, said it did not expect to have funds available to pay HMRC and unsecured creditors.

In an administrators update published on December 31, it said it still anticipates no money will be available.

The report details that the companies owed £1.3 million to HMRC and £1.5 million to unsecured creditors.

However, it added:

“On present information, it is unlikely that sufficient funds will be realised to enable a distribution to be made to unsecured creditors.”

Black Sheep was sold to London Investment firm Breal Capital for £5 million on May 26.

The deal was a part of a pre-packaged sale and the appointment of administrators, which the company said was “essentially to give protection to the companies and prevent any person taking action against it”.

Yorkshire Water sites win biosecurity accreditation

Yorkshire Water has won a bronze accreditation for its biosecurity.

The company has been recognised for three of its sites for combating the spread of invasive non-native species.

Tophill Low Nature Reserve, Swinsty Reservoir and Fewston Reservoir were each awarded AQUA accreditation in December.

The AQUA biosecurity accreditation scheme, run by the Bristol Zoological Society, work with waterway users to help them combat the threat of invasive non-native species such as fish, invertebrate and plant species

Steph Bradbeer, senior ecologist for Yorkshire Water, said: 

“We are delighted to have received Bronze AQUA accreditation, reflecting all the great work done on these sites by Yorkshire Water staff and volunteers. It’s a fantastic achievement but the work doesn’t stop here, we’ll be working to achieve silver and hopefully gold.

“Yorkshire Water is committed to preventing the spread of invasive non-native species and protecting the environment. As we celebrate the achievement of these Bronze AQUA awards, we look forward to working towards further sites being accredited and educating the public on understanding their role in preventing the spread of invasive non-native species.”

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In this article, which is part of a series on the 12 stories in the Harrogate district that shaped 2023, we look at some of the larger companies that ran into difficulties over the year.

What could loosely be termed “economic headwinds” have caused trouble for thousands of companies around the UK in recent years, and in 2023 the storm hit several large local employers. 

Some were rescued, but others sank without trace. Here, we take another look at some of the bigger companies that hit the rocks over the last 12 months. 

Amvoc

Back in March, as many as 230 people lost their jobs after Harrogate telemarketing company Amvoc crashed into administration.  

Amvoc’s clients included some big names, such as BP, Barclays and Virgin Media, as well as the Conservative and Liberal Democrat parties. 

But administrator Gareth Lewis, of Lewis Business Recovery and Insolvency, said in his report that the company had entered into a company voluntary arrangement in 2017 due to “cash flow difficulties” because of the loss of a major customer and “significant bad debt”. 

Amvoc’s former head office on Cardale Park in Harrogate.

Amvoc paid off the bad debt, but only just in time for the start of the covid pandemic. The company, which had unusually high staff turnover – 20 to 30 employees left and started each month – couldn’t cope with lockdown, and even after restrictions were eased, its offices were closed by Public Health England in August 2020 after 50 staff contracted coronavirus. 

Meanwhile, many of Amvoc’s customers held back on projects due to uncertainty caused by the pandemic, leading to an unsustainable trading position. 

Farmison

In April, high-end butcher Farmison went into administration, threatening the jobs of its 100 or so employees. This time, though, the story had a happier outcome.  

The Ripon-based firm, which was founded by John Pallagi and Lee Simmons in 2011, had an impressive client list that included Harrods, Fortnum & Mason, Selfridges and Michelin starred restaurants. 

Major cashflow problems saw it fall into administration with debts of £7 million, but it was quickly bought out of administration by a consortium led by Andy Clark, former chief executive of Asda, for an undisclosed sum. 

Farmison is now back in business, with a leaner staff of 60 under former Marks & Spencer managing director Andy Adcock as chief executive. It relaunched its Cut by Farmison butcher’s shop at its Ripon headquarters earlier this month, plans to open more shops in a bid to diversify, and aims to increase annual turnover to £20 million. 

Black Sheep Brewery

Challenging economic conditions were also behind the difficulties that corralled Black Sheep Brewery into administration in May. 

The Masham company headed off what it called a “local employment catastrophe” by selling out to London investment firm the Breal Group for £5 million, saving about 50 jobs, including that of chief executive Charlene Lyons. 

Black Sheep Brewery’s CEO, Charlene Lyons.

Ms Lyons said that Black Sheep was not the brewing industry’s first casualty and warned it would not be the last. Speaking in June, she said: 

“In the last 12 months, 45 breweries entered insolvency in the UK, a three-fold increase on the previous year, as the cost-of-living crisis has squeezed household disposable income. 

“This has had an extreme and adverse effect on all brewers’ sales, at a time when their own costs and inflation are high. Black Sheep has not been immune to these factors, leading it to the administration process. It is highly likely that many more will follow in the coming months.” 

Ilke Homes

Around 1,100 people lost their jobs when Ilke Homes collapsed into administration in June, owing nearly £400 million to more than 300 creditors. 

The company, which manufactured modular housing in a huge factory at Flaxby, near Knaresborough, had been toasted as a stand-out success story on the region’s business landscape. 

Established in 2017, it built up a client base that included major institutional investors, housing associations, developers and local councils.  

In 2021, Ilke Homes raised £60 million in investment, and a year later, it raised a record-breaking £100 million from new and existing shareholders, following successive years of triple-digit growth. 

But despite a healthy-looking order book, it eventually ran into financial difficulties it attributed to “volatile macro-economic conditions and issues with the planning system”.   

The company said it needed additional funding to build its £1 billion pipeline of 4,200 new homes, but that wasn’t forthcoming, and so it was forced to fold. 

Most creditors saw little or nothing of their investment, including government-owned Homes England, which is believed to have received just 0.01% of the £68 million it was owed. 

The demise of one of the area’s largest employers was naturally not without drama. More than 600 employees took legal action over the way the redundancy process was managed, hoping for compensation of up to eight weeks’ pay. 

And in August – just two days after the firm’s assets had been auctioned by administrators – thieves stole “a large amount of equipment” from its factory, just off junction 47 of the A1(M). Bizarrely, they even refused to leave the site and continued to load up vehicles, even after the police arrived on site. Investigations are believed to be ongoing.

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As 2023 winds down and we start to look to the year ahead, there are some things we can be fairly certain will come our way over the next 12 months.

North Yorkshire will go to the polls in May to elect its first ever Mayor, and there will probably be a General Election too. One has to be held by January 28, 2025, but sometime in 2024 – May or November, perhaps – seems far more likely.

The Bank of England expects inflation to continue to fall over the coming year, and so too will house prices, according to most forecasters.

Locally, though, individual people in business have their own forecasts – and hopes – for the year ahead. So we asked a cross-section of the district’s business community what their aspirations and expectations are for 2024. From electric gritters to selling beer in Taiwan, here’s what they had to say:

Katie and Paul Rawlinson – owners, Baltzersen’s and Bakeri Baltzersen

“Small business owners have to be optimists by nature, so we’ll enter 2024 full of determination to make it our best year yet.

“We’ll invest further in making sure Baltzersen’s can compete with a growing number of really great venues in Harrogate.

“We’re also planning to raise our game in the bakery, Bakeri Baltzersen, with refinements and improvements planned across our whole range of bread and pastry, including a good number of new products and the launch of our first vegan range.”

Photo: Matthew Lloyd.

Annie Wilkinson-Gill – owner, The Crystal Buddha, Knaresborough

“I’m very excited for what 2024 will bring for The Crystal Buddha.

“I have so many things planned for next year, including organising the Knaresborough Wellness Festival on March 24, which is a celebration of lots of lovely local holistic businesses, where anyone can come along and sample what they have to offer!

“We have talks and workshops, stalls and an opportunity to experience a sound bath or aura photography alongside some self-care and retail therapy.”

Simon Eyles – managing director, Bettys

“As with the last few years, I am sure this next year will bring lots of uncertainty, challenge, and change. One thing that is for certain, Bettys will continue to focus on delighting every single customer.

“I’m expecting customers to be increasingly selective in where they spend their money, so we will ensure we provide a brilliant Bettys experience like no other.

“I’m also looking forward to some amazing new menu items and delicious new products from our craft bakery. Look out for those!”

Matthew Chapman – manager, Harrogate BID

“Looking ahead to 2024, as we launch the new objectives within our term 2 business plan of pride in our town, a vibrant town and voice and vision is looking as positive. Dates for events are set, promotional plans for our town taking shape and proactive Harrogate BID teams on the street likely to be expanded.

“Strategically, we would like to see the Government follow up on a policy announced in May 2022 on local leaders being given more power within long-term commercial vacant units.

“We are also keen to continue our positive collaboration with the local authority and future North Yorkshire Mayor as we head towards devolution that should provide more local powers, decision making and funding.”

Zakaria Battal – owner, Kurdish Kitchen, Harrogate

“I think my business will carry on growing in 2024.

“It can be hard to get bookings, and when I do, there’s so much paperwork, but that’s actually good, as it makes me more experienced.

“It also makes it safer for people – I have a five-star food hygiene rating.

“My dream is to open a Kurdish Kitchen restaurant here in Harrogate, so hopefully I’ll get closer to doing that. I’m starting small and slowly getting bigger, one step at a time.”

Sharon Canavar – chief executive, Harrogate International Festivals

“2024 will be the first year we have the Harrogate International Festivals team back up to full strength post-Covid, so I am looking forward to an amazing year of events and festivals.

“We have our usual programmes with one or two very special events including a free light festival across Harrogate town centre, as well as the return of the Spiegeltent – so lots to celebrate.

“We know times are hard for everyone, so I hope that the range of work we do will touch everyone in some way, bringing a little joy or fun into their lives and the community which we serve.”

Richard Bradbury – managing director, T&R Theakston

“At Theakstons, we expect to see continued growth for our major brands like the iconic Old Peculier and some of the new beers which have been going down incredibly well as increasing numbers of pubs and supermarkets choose to stock our beers. Although prices continue to increase, the fact that the rate of increase is much lower than 12 months ago gives us confidence that we can continue to keep our beers affordable for drinkers, wherever they’re purchased. 

“As a business, our focus for 2024 will continue to place beer quality at the centre of everything we do. As a result, we are substantially growing our investment into the brewery to keep this at the heart of our business and honour our commitment to drinkers. 

“Turning further afield, having re-entered the US market in 2023, we’ve been buoyed by the growing worldwide demand for our beers and are looking forward to building new distributor relationships in countries including Poland, Sweden and Taiwan.”

Lee Bellwood – co-owner, Major Tom’s Social

“Being an independent in the bar and restaurant trade is always challenging. With various terrible things happening around the world, I’m happy if we can keep our heads above water. We are in a fortunate situation compared to lots of others. 

“At Major Tom’s Social we are looking at extended opening hours and organising some more social educational events. 

“Hopefully, Harrogate will still attract visitors and tourists even with its dwindling high-street presence.”

Paula Lorimer – director, Harrogate Convention Centre

“Future forward bookings for the year ahead look promising and we are expecting to exceed driving £40 million of economic impact in 2024/25 to support businesses.

“I would like to thank businesses across the borough, especially the hotels and restaurants who support our clients and make event organisers and delegates feel so welcome in our spa town. If Harrogate Convention Centre is successful in making the business case for further investment, then the sky’s the limit to what we can achieve!”

Charlene Lyons – CEO, Black Sheep Brewery

“It goes without saying that 2023 has been a turbulent year, with inflated prices and the cost-of-living crisis impacting us and so many businesses across the Harrogate district. However, Black Sheep Brewery is still moving forwards and we’re hopeful for a much stronger 2024 with some positive changes coming soon. We remain committed to securing local employment as well as continuing to innovate and produce high-quality beers, brewed right here in Yorkshire.

“There have been many positive things that have happened at the brewery in recent months that have helped the team finish strongly for the year. This includes the opportunity to collaborate with and raise funds for Rugby legend Rob Burrow MBE with the launch of ‘Burrow’s Blonde’, a delicious new beer now on tap in your local pub that is already proving to be one our most popular brews.

“In 2024, we also plan on further cementing partnerships with pubs and retailers both across Yorkshire and the wider country, as well as supporting our local communities by renewing sponsorships with grassroots sports clubs such as Harrogate Town AFC.”

Jonathan Lupton – managing director, Econ Engineering, Ripon 

“This year has seen Econ continue to develop and demonstrate the UKs first ever fully electric gritter, the E-QCB, which is currently being used at various sites across the country. A major stride in the push for a more sustainable solution to our nation’s working fleet of vehicles, we look forward to working with councils and contractors in 2024, helping them to cut their emissions footprint. 

“The E-QCB, which has a unique swap-body system allowing it to be used all-year round as a gritter, tipper and caged body vehicle, has already made quite an impact and is a major game-changer when it comes to the environmental impact of fleet operations up and down the UK. We hope 2024 will see us build on that initial success.” 

Peter Lacey – joint managing director, Whole Systems Partnership; executive team member, Knaresborough & District Chamber

“During 2023, Knaresborough & District Chamber, along with other groups in the town, planted the seeds for what I hope will be a year in which we begin to realise the full potential of our fantastic town.

“Securing funds from North Yorkshire Council to explore exciting new ventures will enable us to find our voice for the benefit of businesses and the wider wellbeing of residents and visitors alike.

“The Whole Systems Partnership is in the business of helping the health and care systems across the country to deliver the best possible services for their local populations. For example, early in 2024 we’re looking forward to spreading our wings across the Pennines to help Lancashire County Council work more closely with the different NHS organisations in their area.

“The great thing about being in Knaresborough, however, if that the lessons we learn elsewhere can also be applied in our town, something we’ve supported through Covid and in our support to Knaresborough Connectors in their work to make the town an even better place to live, visit or work in.”

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Are you already thinking of how to reward your employees this Christmas? Why not choose the Harrogate Gift Card?

The Harrogate Gift Card can be spent in over 100 businesses in Harrogate town centre including retail, hospitality and leisure, whilst keeping the spend locked into the local economy.

Complete a corporate bulk order of over £250 and receive 15% discount from November 1 to 15 with the code ‘HGT15’.

Ventilation manufacturer EnviroVent had its products brought to national attention by contributing them to BBC One’s DIY SOS: The Big Build for Children in Need.

The Harrogate-based company donated six ventilation units to Treetops Hospice in Risley in Derbyshire, which was being built for the show. The EnviroVent ECO dMEV units were used in a new counselling and therapy centre for traumatically bereaved children and young people.

In just 10 days, the DIY SOS team, led by presenter Nick Knowles, created the purpose-built counselling and therapy centre, which is expected will support hundreds of young people in difficult circumstances every year.

EnviroVent key account manager James Garland said:

“It was fantastic to be able to provide assistance for such a wonderful cause. All parties who contributed to this project did some great work, which will benefit the lives of so many children and young people.

Indoor air-quality is so important in keeping people healthy and ventilation systems like these ensure condensation and mould is not able to form and cause an issue.”

Black Sheep in first collaboration

Black Sheep Brewery in Masham has unveiled the fruits of its first ever brewery collaboration.

Ensueño is a joint effort with Piglove Brewing, a Leeds firm whose owners hail from Venezuela.

Ensueño is a Spanish term meaning “to aspire to do something that is unlikely to happen”, a sentiment deemed appropriate for brewery start-ups by the two breweries’ founders, Paul Theakston and Marcos Ramirez.

The ale was devised by Marcos and Black Sheep’s head brewer Alex Brandon-Davies, and features Pilsner malt, wheat and two types of oats, as well as Citra, Mosaic and Sabro hops. Each of Piglove’s beers includes a special ingredient, and Ensueño’s is the dried coffee cherry, cáscara.

Ensueño will be on tap soon at the Black Sheep Brewery Visitor Centre in Masham, The Three Legged Mare in York, and Piglove by the River in Leeds.

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The Stray Ferret Business Club’s next meeting is an after work drinks event on Thursday, August 31 at The West Park Hotel in Harrogate between 5-7pm. 

The Business Club provides monthly opportunities to network, make new connections and hear local success stories. Get your tickets by clicking or tapping here.

A Harrogate rental company has said the firm remains in “strong financial position” despite a hike in interest rates this past month.

Vp, which is based at Central House on Beckwith Knowle, recorded a 6% increase in revenue to £371.5m for the year ending March 2023.

In a statement to its annual general meeting, Jeremy Pilkington, chairman of the company, said the group “remains in a strong financial position”.

He added that he expected company results for the upcoming financial year to be in line with board expectations despite “market headwinds” and the Bank of England’s decision to hike interest rates to 5.25%.

Mr Pilkington said:

“We remain focused on the quality of our equipment and excellent service delivery to our customers with an ongoing drive to deliver sustainable solutions to our customer base.

“The group remains in a strong financial position with an excellent track record of delivery. Despite both market headwinds and increases in interest rates, we continue to see opportunities and expect performance for the current financial year to be in line with board expectations.”

Black Sheep launches beer in partnership with Rob Burrow

Black Sheep Brewery has launched a new beer in partnership with Rob Burrow MBE.

The brewery, which is based in Masham, released Burrow Blonde to raise funds for Rob Burrow 7 Discretionary Trust and the Rob Burrow Racing Club.

A total of 10p from every pint and bottle sold is donated to charity.

Picture (from left) Phil Hawthorne, The Good Racing Co, Alex Brandon-Davies, Senior Brewer at Black Sheep Brewery and Rob Burrow and Lindsey Burrow.

Barrie McDermott, Sky Sports pundit and former Leeds Rhinos teammate of Rob, said: 

“I’m incredibly proud to support the launch of Burrow’s Blonde, a fantastic beer for a fantastic cause, it’s yet another way to get behind our little mate Rob Burrow and his family in their battle against MND.”

Rob’s wife, Lindsey Burrow, said:

“We’re really excited to be working with Black Sheep Brewery and launching Burrow’s Blonde. It’s a great opportunity for people to support Rob by simply buying a beer and enjoying a drink with loved ones.”

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Masham brewery T&R Theakston has reported a return to profitability in its annual report and accounts for the year ending December 31, 2022.

The family-controlled business, which has been brewing beers in Masham for almost 200 years, recorded a pre-tax profit of £18,000 for the period, compared with a £2,000 loss the previous year.

Turnover increased by 14% to £6.7 million in the same period, despite what the accounts note as a third successive year “affected by external events”.

Staff numbers grew from 28 to 30 and dividend payments to shareholders rose from zero to £100,000.

Fellow Masham firm Black Sheep Brewery was sold by administrators to London investment firm Breal Group for £5 million in May in a pre-packaged deal that left creditors owed £3 million.

Black Sheep’s sales fell from £19 million in 2019 to £14 million last year, which resulted in a £1.6 million loss, with the company blaming covid and sudden rising costs.

Theakston’s accounts highlight the difficulties facing brewers, which include a 40% increase in barley prices following Russia’s invasion of Ukraine.

The company said it ceased all trade with Russia, which was its largest export market, following the invasion.

Covid, inflation and the cost of living crisis have also hit the sector hard.

Read more:

• Sale of Black Sheep Brewery prevented ‘local employment catastrophe’, says CEO
• Mashamshire Community Office close to financial target to purchase building
• London investment firm buys Masham’s Black Sheep Brewery

The report’s strategic review by the directors said:

“We were forced to pass most of these cost increases on in higher prices, but pricing in the off trade did not fully recover the increased costs and hence margins in this channel were squeezed.

“While customers have been largely understanding, consumers have squeezed disposable incomes. Our pubs customers are caught between increased supplier costs, increased running costs of their own and less affluent consumers, so we are very mindful of keeping price increases to the minimum we can afford.”

Theakston has changed its sales model by broadening its supply routes to the on trade and by spreading its interests beyond beer by launching a cider and whisky as well as new ales.

Simon Theakston, joint managing director of T&R Theakston, said:

“With a healthy balance sheet and secure financial arrangements, we remain focused on growing our revenue and are excited about some of the upcoming opportunities to forge new partnerships and bring innovative new products to market.

“We have made a good start to the year and, as a result, the board of directors is confident that as trading conditions continue to improve and the economy stabilises, we will see a steady improvement towards pre-pandemic levels of profitability.”

Kirkby Malzeard is set to host a three-day weekend of community activities, starting tomorrow.

The Big Weekend will include live music, a Black Sheep bar, street food and artisan stalls in the first event of its kind in the village.

Visitors can expect performances from Hyde Family Jam, Reeth Brass Band, Kirkby Tunes Folk Group, and many more over the Father’s Day weekend.

The event promises something for all ages, from the inaugural 11K Crackpots Run to a TikTok disco.

There will also be a scarecrow trail – with 32 scarecrows scattered around the village – as well as a parade, a farm and tractor fest and a dog show and scurry.

Nigel Robertshaw, a village resident overseeing the live music event, said:

“This is a first for the village and we know it will be something completely different.

“We are also running a Kirkby’s Got Talent session to allow local people the chance to perform on a live stage.”

During the live music on Saturday night, Manchega Tapas and Skellgill Burgers will be offering pop-up food, alongside the village’s own fish and chips. Tickets for the live music can be found here.

The Big Weekend will round off at the village pub, the Queens Head, with an all-ages karaoke and barbecue.

Any money raised from the weekend will be used to fund future community events, including the bonfire and youth projects.

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The sale of Masham’s Black Sheep Brewery prevented a “local employment catastrophe”, the company’s chief executive has said.

Charlene Lyons, who has been kept on in her role following the sale of Black Sheep, warned that other breweries faced administration amid the current economic climate.

It comes as administrators Teneo Financial Advisory revealed in a report this week the company suffered significant sale losses during the covid pandemic.

The report said sales fell from a high of £19 million in 2019 to £14 million last year, which resulted in a £1.6 million loss.

It added the company’s performance “suffered during covid pandemic and trading challenges continued as a result of the current economic environment”.

Ms Lyons said the sale of the company to Black Sheep Brewing Company Ltd, which is owned by London investment firm the Breal Group, helped to save jobs.

She said:

“The Breal Group acquired the assets, out of administration, to secure the business for the long-term and this has saved the jobs and futures of the people that worked there.

“Black Sheep is a significant employer within the town of Masham, this deal has prevented what could have been a local employment catastrophe.”

Read more:

• London investment firm buys Masham’s Black Sheep Brewery
• Suppliers owed £3m after Black Sheep Brewery sale

The deal saw Black Sheep sold to Breal Group for £5m on May 26.

It was part of a pre-packaged sale and the appointment of administrators, which the company said was “essentially to give protection to the companies and prevent any person taking action against it”.

It also left creditors, including HMRC and suppliers, owed nearly £3 million – money which administrators don’t expect them to get back.

But Ms Lyons said breweries across the country faced “challenging times” amid high inflation and the cost of living crisis.

She added that it was likely that more breweries would enter administration this year.

Ms Lyons said:

“We do recognise that this is a difficult time for all shareholders and stakeholders alike, while the industry continues to face challenging times. 

“In the last 12 months, 45 breweries entered insolvency in the UK, a three-fold increase on the previous year, as the cost-of-living crisis has squeezed household disposable income.

“This has had an extreme and adverse effect on all brewers’ sales, at a time when their own costs and inflation are high. Black Sheep has not been immune to these factors, leading it to the administration process. It is highly likely that many more will follow in the coming months.”

Creditors were owed nearly £3 million after the sale of Masham’s Black Sheep Brewery, administrators have revealed.

In a report, Teneo Financial Advisory said that both HMRC and unsecured creditors are not expected to receive any money back.

The news comes after Black Sheep was sold to London Investment firm Breal Capital for £5 million on May 26.

The deal was a part of a pre-packaged sale and the appointment of administrators, which the company said was “essentially to give protection to the companies and prevent any person taking action against it”.

The decision to sell the company came as Black Sheep’s sales fell from a high of £19 million in 2019 to £14 million last year, which resulted in a £1.6 million loss.

Administrators said the company’s performance “suffered during covid pandemic and trading challenges continued as a result of the current economic environment”.

Black Sheep made use of government schemes such as the Coronavirus Business Interruption Loan Scheme and Recovery Loan Scheme. It also made a business interruption insurance claim and increased supply to supermarkets and through its e-commerce platform.

But, the report added:

“However, demand did not recover to pre-covid levels and the companies also faced cost input inflation.

“As a result, the companies continued to experience cash flow difficulties.”

Creditors not expected money back

Teneo Financial Advisory was appointed to oversee the affairs of both Black Sheep Brewery and its retail arm BSB Retail Limited.

The report by Teneo shows that HMRC was owed £1.3 million in VAT, PAYE, student loan repayments and national insurance contributions.

Meanwhile, unsecured creditors, which include traders and suppliers, were owed £1.3 million.

However, administrators said neither are expected to receive any money back.

A total of 376 creditors across both businesses are listed in the report.

Among those owed money are suppliers and packaging firms, including London-based Sustain Drinks Packaging which is owed £33,888.

Read more:

• London investment firm buys Masham’s Black Sheep Brewery
• Masham’s Black Sheep Brewery to enter administration

Among the highest was Simpson Malt, based in Berwick-Upon-Tweed, which was owed £83,495.

Meanwhile, staff at Black Sheep, known as preferential creditors, have already been transferred over to the new company following the purchase.

The Stray Ferret has approached Black Sheep Brewery for comment on the administrator’s report.

A London investment firm has bought troubled Black Sheep Brewery in Masham.

Black Sheep announced early this month it intended to appoint administrators after being hit hard by covid and rising costs.

Breal Capital was reported to be leading the race to acquire the company.

Today the news was confirmed in a short statement which did not reveal how much had been paid for the business.

However, the news saved about 50 jobs in Masham and more in the supply chain.

The new owners said it had “a proven track record of successfully transforming and growing the businesses it acquires”.

A spokesperson for the new Black Sheep Brewing Company said:

“We are pleased to announce that Black Sheep Brewery has been acquired by the Breal Group and has become Black Sheep Brewing Company Limited, trading as Black Sheep Brewery.

“This marks the next chapter in the history of Black Sheep as we look to grow the business in a sustainable way.

“Our team will continue to produce great beers from our landmark brewery in Masham, North Yorkshire and we look forward to welcoming bank holiday customers and tourists to all our retail sites this weekend.

“Breal has a proven track record of successfully transforming and growing the businesses it acquires through the private capital, operational resources, and strategic expertise it brings and we look forward to working closely with the team.”

Read more:

• Talks to buy Masham’s Black Sheep Brewery reported to be underway
• Masham’s Black Sheep Brewery to enter administration