Brewery insolvencies triple as costs bite

The number of breweries falling into insolvency has tripled, reaching 45 in the year to March 31 2023, compared to 15 in the previous year.

The insolvencies are predominantly amongst smaller craft breweries suffering from rising costs and a saturated market place, according to accountancy firm Mazars.

Associate director Paul Maloney said: "Craft breweries have been struggling for some time but rising prices have brought their financial challenges to a head.

"Craft brewers often offer ‘premium' beers, but consumers are turning to cheaper options. As such, discounted brands produced by large international brewers and supermarket own brands are increasingly the choice for consumers.

"The craft beer market became heavily overpopulated over the last decade. The cost-of-living crisis now means many of these brewers are fighting for a place in a shrinking market. Some of them will not make it."

Breweries that have entered administration in the past year include Tyne Bank Brewery and London-based Boxcar Brewery.