Brewhouse & Kitchen is engaged in a strategic review to identify the “optimum way to create liquidity for investors”.
The company said craft beer continues to grow and has yet to reach maturity in the pub sector, while the market for quality managed houses is showing signs of activity.
Brewhouse & Kitchen said 2023 continued to be challenging, but is optimistic due to its positioning as a premium, mainly freehold, market-leading brewpub business.
Last year as a result of inflationary challenges, Brewhouse & Kitchen reported its core customers had fewer discretionary pounds in the their pockets, and were more cautious about spending them.
This led to a 1% like-for-like decrease in the year to September 2022, compared to 2019.
Group turnover was up by 74% to £16.4m in 2022 (2021: £9.4m).
The business reported an operating loss of £2.1m (2021: £1.5m).
Shareholders equity has decreased to £15.1m (£17.3m).
A bank loan due in December 2022 has been extended to September 2023, with negotiations being held to extend this facility for another four years.
The business is also looking to increase the size of the loan as part of a wider refinancing package.
Should this not exceed, the directors have “other vehicles for releasing cash”.
