Date Published: 24th August 2022
Buyers are being urgently sought for a huge stock of beer brewed by defunct Manchester-based Beatnikz Republic Brewing Co which ceased trading in April this year.
Liquidators at Begbies Traynor in Manchester say there are approximately 300 barrels of beer and hundreds of cans of craft ale left over following the demise of the award-winning brewery in what amounts to an estimated 20,000 pints ready to be pulled.
The beer, currently sat in a bonded warehouse near Strangeways, consists of a mix of craft ales including IPA’s, Pale Ales, Stouts and specialist fruit-based beers with names like Beach Bum, Oblivion Now, Miami Amor and Chocolate Fudge Cake.
Paul Stanley and Jason Greenhalgh of Begbies Traynor in Manchester have been appointed as Joint Liquidators of Beatnikz Republic Brewing Co. They say the stock is a good opportunity for someone in the trade as they seek to recover funds for creditors of the company.
Paul Stanley, North West regional managing partner of Begbies Traynor, said:
“We’re looking for someone in the trade to see the opportunity, step forward and buy the bulk of the stock that’s left over in this treasure trove of ale. At this stage we estimate there’s almost 20,000 pints of craft ale sitting here and we’ll supply a full inventory upon request. It would be good for a trade buyer such as a freehouse, independent bar or organised beer festival.
“Plenty of the beer has a 2023 ‘best before’ date. Buyers would have to collect the barrels and kegs and the price of the beer reflects this logistical challenge. This beer was commonly retailing at around £6 a pint in the Northern Quarter but we’re looking for around £1 a pint which includes the duty that needs to be paid.
“The company was hit hard by the impact of lockdown restrictions, rising transport costs and inflation. Its primary customers were licensed premises across Manchester city centre and in particular in the Northern Quarter from where they were able to grow good awareness of their brand locally and even internationally.
“This case highlights the challenging times faced by many in the hospitality trade. It’s not the first brewery we’ve been appointed to in recent times and it certainly won’t be the last in this kind of inflationary economic climate.”
1,918 companies in the Bar and Restaurant sector in the North West region are currently operating under significant financial distress according to the latest Red Flag Alert data which is produced quarterly by Begbies Traynor.
Interested parties should contact Mark Dyer at Begbies Traynor in Manchester on (0161) 837 1700 or [email protected]
Paul qualified as a chartered accountant in 1987 with Arthur Andersen an international accounting practice. He worked on audits, management consultancy and buy out due diligence before specialising in insolvency and investigations. In 1990 he was granted an insolvency licence by ICAEW.
He worked on the Robert Maxwell private company administrations in the Middle East in the early nineties and developed strong banking relationships. In 1993 he joined up again with ex-Andersen's colleague Ric Traynor as Ric's first partner in the firm which later changed its name to Begbies Traynor. Paul acts as managing partner in the Manchester office and sits on both the firm's management and technical committees. He has a reputation as a straight-talking, honest advisor who is both technically strong and commercial.