Jarrow Brewery, the South Tyneside based brewer and pub operator, has gone into liquidation after promised funding failed to materialise.
It comes just six months after the company appointed Tim Cottier as chairman of the board and revealed expansion plans, including its aim to establish itself in America and gain AIM listing.
Ina statement managing director Jess McConell said: “Jarrow Brewery Ltd can confirm that the company was put into liquidation on 15 April 2015..
“It is with regret that the Board has had to take this action, which is a consequence of the failing of promised planned funding to materialise, resulting in a cash flow difficulties.
“Trading will not be affected and the newly structured company will be fulfilling current and future orders to ensure that Rivet Catcher, McConnell’s Irish Stout and the full range of beers will continue to be enjoyed by drinkers in the heartland of the North East and through its national customer base.
“It is anticipated that within the next 48 hours that there will be an announcement regarding the appointment of a new chairman, who will support and guide the management team as it focuses on driving the business forward.
“There will be no further comments or statements until the appointment of the new chairman is confirmed.”
