BrewDog has entered administration, resulting in 484 redundancies and the closure of 38 bars, after US-based Tilray agreed to acquire the brewer’s UK operations, brand and 11 pubs for £33m.
Administrators from AlixPartners said the transaction preserved 733 jobs but confirmed that hundreds of roles were lost where sites were not included in the deal. No equity holders, including participants in BrewDog’s Equity for Punks scheme, will receive any return.
Sale Terms And Job Losses
Tilray will take control of BrewDog’s Ellon brewery in Aberdeenshire and The Hop Hub distribution centre in Motherwell, Lanarkshire. BrewDog’s 18 franchise bars in the UK and overseas will continue operating.
The administrators said there had been significant interest in the company but no offer that would have preserved the business in full.
“Regrettably, a total of 38 bars in the UK will close with immediate effect, leading to 484 redundancies,” AlixPartners said.
Unite, the trade union representing hospitality workers, described the day as “devastating.” General secretary Sharon Graham said: “BrewDog workers built this brand. They deserved respect. Instead, they were treated as disposable pawns.”
Bryan Simpson, Unite’s national lead for hospitality, criticised senior management, saying the decision to inform staff of immediate redundancies on a conference call with 25 minutes’ notice “has echoes of P&O.”
Equity For Punks Investors To Lose Out
Concerns had been raised about the fate of small investors in the Equity for Punks scheme, launched in 2009. Around 200,000 people invested, typically spending about £500 on shares priced between £20 and £30. The scheme is said to have raised £75m before closing to new investors in 2021.
Administrators confirmed that ordinary shareholders would receive no return from the sale.
In 2017, TSG Consumer Partners acquired a 22% stake in BrewDog through preference shares. Those shares entitled TSG to priority repayment of its investment plus returns in the event of a sale, potentially leaving little for small investors.
Financial Struggles And Previous Cuts
BrewDog, founded in 2007 by James Watt and Martin Dickie in Aberdeenshire, operates four breweries and around 100 pubs globally. The company employed about 1,400 people.
In October last year, the firm announced job cuts after posting a £37m loss. Over the past five years, it failed to record a profit and accumulated losses of almost £150m while carrying significant debt.
Earlier in 2025, BrewDog said it would close 10 UK bars, including its flagship site in Aberdeen. Last month, it halted production of its gin and vodka brands at its Ellon distillery.
BrewDog’s German arm, including a brewery and bar in Berlin, was not included in the Tilray deal and will be liquidated. The companies are continuing negotiations over BrewDog’s assets in the United States and Australia.
Management Changes And Controversies
The company faced criticism in 2024 after announcing it would stop hiring new staff on the real living wage and instead pay the statutory minimum wage.
A BBC Scotland documentary highlighted allegations concerning former chief executive James Watt. A complaint was made to Ofcom but later rejected. Watt subsequently stepped down as chief executive and took on a new role as “captain and co-founder.” Martin Dickie left the company last year, citing personal reasons.
BrewDog Bars Closed With Immediate Effect
Bars closing include locations in Basingstoke, Bath, Bournemouth, Bristol (Baldwin Street and Harbourside), Cambridge, Cardiff, Carlisle, Cheltenham, Exeter, Liverpool, Milton Keynes, Newcastle, Norwich, Nottingham, Plymouth, Reading and Southampton.
In London, closures include Soho, Camden Road, Chancery Lane, Clerkenwell, Ealing, Hammersmith, Seething Lane, Tower Bridge and Wandsworth.
Scottish closures include Aberdeen (Castlegate and Union Square), Edinburgh Cowgate, Glasgow Merchant City and Argyle Street, Inverurie, Perth, St Andrews and Stirling.
BrewDog Bars Acquired By Tilray
Sites acquired by Tilray include Birmingham; London locations in Canary Wharf, Paddington, Seven Dials, Tower Hill and Waterloo; Manchester Peter Street; DogTap in Ellon; DogHouse Edinburgh and Edinburgh Lothian Road; and Dublin in Ireland.
Featured image credits: Wikimedia Commons
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