Brewdog Workers and Creditors Face No Payout After Takeover Deal

Former Brewdog staff and several creditors are not expected to receive any money from the collapsed Scottish brewer’s administration, according to BBC. Administrators AlixPartners said there were insufficient funds for payouts to those owed money by the retail arm after Brewdog was sold in March to US drinks firm Tilray in a £33m rescue deal. The report said about £489,000 was owed for staff wages and accrued holiday pay, while HMRC was owed £2.4m for unpaid VAT. Brewdog’s parent company BrewDog PLC is still expected to pay HMRC £3.66m in tax owed, mainly VAT and excise duty. The administrators said lower-than-expected asset-sale proceeds and higher administration costs left an estimated £16.8m shortfall, and unsecured creditors owed around £190m are expected to receive less than a penny in the pound.