Over 300 jobs saved as True North Brew Co bought out of administration
The future of Yorkshire pub operator and brewer True North Brew Co has been secured after it was bought out of administration, saving 325 jobs.
The Sheffield-based businesses operates 12 pubs and bars across south Yorkshire, as well as its own brewery and distillery producing spirits such as Sheffield Dry Gin.
Administrator Interpath Advisory said True North Brew Co had been negatively impacted by the pandemic and difficult trading conditions, including spiralling food, labour, and energy costs.
Howard Smith and Rick Harrison from Interpath Advisory were appointed joint administrators to True North Brew Co Limited on 2 August 2023.
However, they concluded a sale of the business and assets the same day to Cocktails and Craft Beers Limited, which shares one of the same directors.
All 325 of the company's employees have transferred to the purchaser as part of the transaction.
Smith said: "True North Brew Co's pubs and bars have long been a popular destination for customers across south Yorkshire, but the impact of lockdowns and hyperinflation have placed an enormous amount of pressure on the business.
"After exploring a number of options, we're pleased to have concluded this transaction which will see the continued operation of the company's venues, brewery and distillery, and which importantly, safeguards over 300 jobs. We wish the management team all the best for the future."
Irwin Mitchell acted for the administrator, while Lupton Fawcett acted for the purchaser.
The number of breweries falling into insolvency has tripled over the last year as businesses struggle with rising costs.
Craft brewer Manchester Brewing Co closed in January while Southampton's Unity Brewing Co shut its doors in February. Somerset's Wild Beer Co entered administration in December after 10 years of trading, blaming "adverse trading conditions".
Yorkshire's Black Sheep Brewery was bought out of administration by a London investment firm in May.
Image: True North Brew Co / Facebook
