Black Sheep Brewery reports ‘active interest' from potential buyers

Yorkshire-based brewery and pub operator Black Sheep Brewery has said there are multiple parties with an "active interest" in buying the company to save it from collapse.

On Tuesday (2 May) the Masham-based brand said it was calling in administrators after attempts to sell its share capital failed.

The 30-year-old brewery launched a strategic review of its funding in April after it was "hit very hard by the pandemic and the sudden rise in all costs".

A spokesperson for Black Sheep Brewery said: "Since filing its notice of intention to appoint an administrator, the company has received a significant number of enquiries and continues to have discussions with parties interested in acquiring its business and assets.

"We are pleased to note that there are parties who have an active interest in maintaining operations in Masham and continuing to invest in the people at Black Sheep Brewery and the products they produce.

"The directors are confident that operations and employment at the brewery and the retail outlets will continue."

In a statement on 2 May, Black Sheep Brewery announced its intention to appoint Kristian Shuttleworth and Clare Boardman of Teneo Financial Advisory as administrators to the company and BSB Retail Limited to "protect the interests of its creditors".

At the time, the company said its shares would not be traded until further notice and announced the suspension of an auction, which had been scheduled for 24 May.

In response to the announcement on appointing administrators, Charlene Lyons, chief executive and executive chair of Black Sheep Brewery, had said: "The directors have done their utmost to deliver new investment into the existing corporate structure. This has not been possible, but we are progressing with our discussions around a sale of the business.

"We are focused on achieving continuity of the business and employment and thank everyone for their support so far. We have taken the decision to protect the business and its creditors, during this period, by filing a notice of intention to appoint administrators."

Paul Theakston founded Black Sheep Brewery in 1992.

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