Brewery sinks into administration
An independent brewery has entered administration after a Company Voluntary Arrangement it was operating under collapsed.
Tom Woods Beers, which brews around 170,000 pints a week from its base in Melton Ross near Barnetby, has called in CRG Insolvency & Financial Recovery of Grimsby to look after the day-to-day running of the firm.
According to Companies House, Tom Wood Beers’ accounts are overdue for filing and the company has been operating under a Company Voluntary Arrangement since December 2014 whereby it was scheduled to make four consecutive monthly payments to creditors of more than £2,000, followed by 35 payments of £4,000 or more.
In February this year, it emerged that the company was £7,000 in arrears with these payments, but had paid back some £76,000 owed to creditors. The CVA would fail if the firm failed to pay three monthly contributions.
Tom Wood brewed three core beer – it’s Best Bitter, Lincoln Gold and Bomber County. The firm has three directors: Tom Wood; John Wood; and Mark Smith.