The new owners of a popular brewery in Liverpool are toasting a rosy future for the business after acquiring it out of administration.
Liverpool Organic Brewery, which is based in Bootle, brews craft ales including 24 Carat Gold, Liverpool Pale Ale, Liverpool Pilsner and a range featuring historic local ‘heroes’ including feminist figurehead Josephine Butler and ‘saint of the slums’ Kitty Wilkinson.
Jason Greenhalgh and Paul Stanley of Begbies Traynor were appointed Joint Administrators on 15 March 2018.
Today they announced the completion of the sale of the business and assets as a going concern to Circus Group.
Liverpool Organic Brewery launched in 2008 as one of the pioneering micro-breweries in the North of England. Its beer is widely stocked across the city in real ale pubs which sprang up a decade ago in defiance of the general pub closure trend across the city.
The business traded successfully for most of the next decade, developing a number of well known brands in the industry and on the beer festival circuit.
The rise in the number of micro breweries and the major breweries entering the craft beer market led to stiffer competition and a decrease in the sales over a period of time.
The company began to experience financial difficulties and increased creditor pressure and with a deadline set by HMRC to revoke its wholesalers licence, directors called in Begbies Traynor, the business recovery advisers in Liverpool.
Jason Greenhalgh, partner at Begbies Traynor, said:
“As a CAMRA member I was encouraged to see the high level of interest we received in the business when we marketed it for sale. “I am delighted we have achieved a sale which will hopefully see the brewery and the various products continue to be produced in Liverpool for many years to come.”
Mark Hensby, the founder of Liverpool Organic Brewery, said:
“I am delighted a sale has been secured by Begbies Traynor and that the Liverpool Organic Brewery brand will continue in Liverpool”
Jeff Arundell, chairman of Circus Group, said:
“We are delighted to announce that we have successfully completed the purchase of Liverpool Organic Brewery Ltd from Begbies Traynor within the budgets and timescales originally envisaged. May we congratulate their partners, officers, consultants and legal representatives for their user-friendly approach and for expertly steering the transaction to a successful conclusion."
“We are delighted with this deal and we are happy to play a role in continuing to stimulate the craft beer revolution in Liverpool."
Jason first started at Begbies Traynor in July 1989 as a junior and progressed though to Senior Administrator over a period of time to 1997.
After a short time away, he rejoined Begbies Traynor and sat the JIEB Exam in December 2002 and obtained a non-appointment license the following year.
In May 2008 Jason was promoted to Insolvency Director, upgraded his insolvency license with the IPA and has taken appointments since May 2008. Jason has gained valuable experience at every level and has dealt with a wide range of different insolvency assignments. For the past 10 years he has concentrated on the mid range insolvency market.