As Masham celebrated the King’s Coronation, people in the small market town have spoken of hopes a buyer can be found for the Black Sheep Brewery.

Last week, Black Sheep announced administrators had been appointed after being “hit very hard” by the pandemic and a rise in costs.

The company, which employs around 50 members of staff, was founded in 1992 and has become a tourist hotspot bringing a significant amount of footfall to the town.

One local business owner told the Stray Ferret people are worried about a potential loss of income for their own businesses if the brewery doesn’t survive.

Tim Ledbetter, owner of Bentley’s of Masham, said:

“With it being such a big employer, there is then a big knock-on effect.

“We get a lot of trade from visitors of Black Sheep — it could be detrimental.”

The brewery reported turnover of £14.3 million as of March 31, 2022, according to its most recent accounts. However, it also stated a pre-tax loss of £1.18 million, compared to £862,871 profit in the previous year.

Read more:

• Masham’s Black Sheep ‘trading as normal’ as administration looms
• Masham’s Black Sheep Brewery to enter administration

Reports of  interest from several potential buyers has given some cause for cautious optimism.

Emily Swift, an employee of Through the Looking Glass, said:

“People were definitely concerned, but talks of a possible buyer has eased worries.”

A confirmed acquisition or sale has not yet been confirmed, and Teneo remains in place as the brewery’s financial adviser.

It’s time to join the Stray Ferret Business Club. The fourth in our series of networking events, with Banyan Bar & Kitchen, is a breakfast event on April 27 from 8am.

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Black Sheep Brewery has launched a strategic review to explore funding options to develop the business. One option could be to sell the company.

The Masham based company has appointed Teneo as its financial adviser to support the review.

In a statement it said was  “considering all options, one such option being a merger or an acquisition of the Company, in whole or in part, if such a solution offers the best outcome for shareholders and other stakeholders whilst providing a stable base for the future of the business.”

Black Sheep said it was experiencing good sales volumes of its beers, however there remains a significant constraint on funding due to economic conditions.