Brewery seeking buyer after running out of money

Bradford Brewery has confirmed it has “run out of money” as it seeks a buyer through an accelerated sale.

The brewery, which TheBusinessDesk.com yesterday revealed was in trouble, requires at least £50,000 to keep it running.

Phillip Ogg, who became managing director last year, said that despite its website stating its Bradford Brewery was closed, it was just the tap room that had closed for the time being while further decisions were made. He said the Exchange Ale House, in Market Street, which the brewery opened last year, would remain open.

Ogg said they had done everything possible to keep the brewery going but declining footfall proved to be an issue.

A spokesman said: “Bradford Brewery has run out of money and has entered an accelerated sales process. Either the shares or business and assets can be purchased. The minimum level of future investment required is estimated to be £50,000. It is a well regarded brewer selling popular ales such as “Hockney Pale” and “Northern Soul”.

“It has its own Bradford City Centre retail outlet “The Exchange” as well as the Tap Bar at the brewery. It supplies pub chains as well as wholesalers and other independent pubs and retail outlets generating a turnover in excess of £300,000. It has recently been awarded the Society of Independent Brewers (SIBA) Food Safety & Quality Scheme certificate which will open a much bigger market of outlets for its products.”

The firm’s brewery is based on Rawson Road. The Leeds based business turnaround firm, Chamberlain & Co, have been instructed by the directors to assist them in the sales process.

In October last year, Bradford Brewery purchased and cancelled the shareholding held by its former director Matthew Halliday.

The company was then owned by the other seven original shareholders including directors Phillip Ogg and Mark Lister, who were overseeing the running of the company, plus three new investors.

Halliday ran the brewery on Rawson Road through to its launch in February 2015, until he left to pursue other interests. The transaction ended Halliday’s links with the company.

Ogg and Lister then restructured the business, which they said last year had a steady increase in wholesale beer sales. At the time, they said they were focusing on other growth plans, including the re-launch of the Made of Bradford merchandise range.

Click here to sign up to receive our new South West business news...
Close