Tilray buys Brewdog UK operations and triggers 484 job cuts
Change
Tilray purchased Brewdog's UK brewing operations, brand and 11 pubs for £33m, while 38 pubs were excluded from the deal and immediately closed, producing 484 redundancies.
Why it matters
Employees at pubs excluded from the sale cannot rely on Brewdog to pay outstanding wages, overtime or accrued holiday and must pursue claims via the appointed administrators. Retail investors in Brewdog's Equity for Punks scheme will receive no return from the transaction, eliminating that route to recover invested funds.
Implications
- • Redundant staff at the 38 closed pubs must submit claims through the UK's Insolvency Service via the appointed administrators, AlixPartners, to seek unpaid wages and holiday pay.
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Topics
Governance Regulatory Actions Mergers & Acquisitions Retail & E-commerce Manufacturing Food & Beverages