Black Sheep Brewery would have shut down if a controversial sale of the business which left shareholders empty-handed and is due to cost creditors and taxpayers millions had not gone through, the firm’s new boss has told The Yorkshire Post.
Mark Williams, CEO of Keystone Brewing Group, said that while he was 'sympathetic' to shareholders and creditors who have lost money as a result of the pre-pack administration deal which took the Masham brewery into private ownership last year, it was the only option on the table to save the business. “At the time the only other outcome was closure, there was no one else,” he said.
If Sheep had asked for more, they probably wouldn’t have been able to ask for enough.' The firm had recorded a £1.6m loss in 2022-23 as it struggled with the fallout from the pandemic and rising costs. Three of the four pubs that Black Sheep ran in Yorkshire were closed following the deal, while taxpayers and creditors are expected to lose out on around £4m as a result of the administration process. A further report from administrators is due to be published in June.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why the Black Sheep Brewery administration continues to leave a bitter taste in shareholders’ mouthsFrom: Keith Sturdy, Grimbald Road, Knaresborough.
Read more »
Black Sheep Coffee opens in Glasgow's west end with new Byres Road spotThe coffee specialists will open the west end venue today, offering Norwegian waffles, protein bowls, shakes, smoothies, pastries, and an array of speciality coffees.
Read more »
Black Sheep Brewery's new boss on saving firm, £100m revenue plans and why he won't be photographedThe new man in charge of Black Sheep Brewery may keep a deliberately low public profile but he has big plans for the future of Yorkshire firm. Chris Burn reports.
Read more »
This Mass. brewery just opened its second taproom right by Fenway ParkMighty Squirrel Brewing opens new location in the Fenway neighborhood of Boston, Massachusetts.
Read more »
Pub chain giving away free pints - but only if something happens in ManchesterThe brewery will be giving away 1,000 free pints - but only if it rains
Read more »
T&R Theakston: Yorkshire brewery launches business with its cooper to protect historic craftIt is a profession which can trace its history back thousands of years but which is still very much alive in Yorkshire.
Read more »