North Brewing Co rescued from administration with 78 jobs saved

Yorkshire-based North Brewing Co has been sold out of administration to the director of a fellow Leeds brewery, saving 78 staff jobs.

Steve Holt, of Kirkstall Brewery, has stepped in to purchase the company and allow it to continue trading.

North Brewing Co was founded in 1997 and supplies supermarkets and restaurants nationwide including Indian restaurant chain Dishoom, Wildwood in London's Covent Garden, Grantley Hall in Yorkshire, and Moor Hall near Birmingham.

It also trades through its own taprooms and bars and sells to pubs and bars across the country directly and via beer wholesalers.

The company had struggled with the rising cost of energy, labour, and raw materials, and was forced to appoint administrators on 25 January.

Immediately after their appointment, the joint administrators from Interpath Advisory sold the business and its assets to Vertical Drinks Limited and Kirkstall Brewery Limited.

The deal safeguards the future of the brewery in Leeds, as well as the North Taproom bars in Leeds and Manchester.

The North Taproom in Birmingham is not included in the sale and is set to close with 15 redundancies.

North Brewing Co will continue to be an independent brewery operating from its Springwell site and will be run by the existing management team. The new company will be known as Vertical Drinks Ltd T/A North.

Tom Swiers, head of food and drink at Interpath Advisory, said: "North Brewing Co is a renowned craft brewer that has forged an excellent reputation over the years for the quality and innovation of its beers.

"We are pleased to have completed this transaction which represents an exciting tie up of brilliant beer brands based here in Leeds.

"The deal will allow the Group to move forward under new ownership and we wish the purchaser and the management team all the best for the future."

The number of UK breweries falling into insolvency tripled last year, according to analysis by accountancy firm Mazars.

Manchester Brewing Co and Southampton's Unity Brewing Co both shut down in 2023, while London-based Brew by Numbers was rescued from administration in August.

Manchester-based Squawk Brewing Company this week announced it would close at the end of March after its utility bills rose by £8,000 a month.