Growler Brewery, the Essex brewer chaired by former Molson Coors managing director John Holberry, has been placed in administration, M&C Report has learnt.
The parent company of the plant, near Long Melford in Suffolk, is in the hands of business rescue specialist McTear Williams & Wood, which hopes to sell it as a going concern.
McTear Williams & Wood said in a statement: “In the past few years the business has struggled financially and while the shareholders have invested significantly, appointed a new managing director and undertaken cost saving measures, it was unable to recover.”
With an annual turnover of close to £2m, Growler currently employs 12 people, but M&C Report understands that managing director Steve Wilson, who was appointed only in November 2013, has left the company.
Founded in 1986 as Nethergate Brewery, in 2012, under the chairmanship of Holberry, the business was relaunched with a fresh identity and most recently expressed plans to acquire an estate of up to 15 pubs.
McTear Williams & Wood partner Chris McKay said he was optimistic about an early sale.
“In fact we have already received expressions of interest from prospective purchasers. We are hopeful that a successful transition of ownership will safeguard jobs.”
