Craft beer company goes under

Tue, 26 Mar 2019 | ADMINISTRATION



With stores in London, Canterbury and Margate, craft beer merchant business The Bottle Shop has collapsed into administration following a series of challenging trading conditions in a competitive market.

Administrators have been appointed to handle the insolvency of the business, and to find a new buyer to take over the company and save it from liquidation.

Andrew Morgan, who founded the company in 2010 at a farmers’ market in Kent, claimed the reason for the business’s present downfall was due to sales falling “well under forecast” during the difficult winter trading season.

In 2017, The Bottle Shop raised £400,000 in a Crowdcube fundraising campaign with the aim of opening two new retail shops in London but was hit when a major supplier ceased trade with them shortly after.

Morgan said: “This was a torpedo blow to our forecasts and though the team valiantly and brilliantly battled to overcome this, when another top-three brewery dropped us with no notice last year, it didn’t help our situation.

“We brought on a consultant to help with this and quickly realised the extent of the financial legacy we were carrying from the breweries we’d lost. I set about finding a partner and came incredible close to announcing something very positive, but it wasn’t meant to be.”

Despite the financial shortcomings, Morgan noted that the company experienced its highest ever turnover in November 2018, with a positive trajectory for December and January 2019 as well.

He said: “We made a lot of people very happy since 2010 and hope that whoever ends up buying the business carries on our desire to burn brightly and never settle for anything other than the best.”

Potential buyers are invited to express their interests immediately.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Licenced Thai Restaurant with Accommodation
Bedfordshire, UK Wide

Very successful licenced Thai restaurant plus 5 bed accommodation - rural Bedfordshire. Established since 2010 and trading from a former public house property with 50 car private car park adjacent and excellent outside space including gardens, patio...

Asking Price: £295,000
Turnover: £500,000

LEASEHOLD


Licenced Turkish Restaurant & Bar
Essex, UK Wide

Business established just over a year ago, fitting the premises to a high standard. The owner is genuinely looking to sell the business due to his other business interests. Viewing recommended. Offers invited.

Asking Price: £125,000
Turnover: £432,000

Licenced American Diner
Southend-on-Sea, Essex, South East, UK

Licenced American Diner (70 overs + 18 alfresco)​ - Southend-on-sea. A popular fast food diner, fitted to a high standard trade to include an extensive array of 1950's memorabilia. Offers invited.

Asking Price: £99,000
Turnover: £336,000


View more businesses for sale

News Search

Latest News

 
15
 
Jun
 

Equity funding reaches record high for SMEs | BUSINESS NEWS

As investment rises outside of the capital, small businesses...

 
14
 
Jun
 
 
13
 
Jun
 

Sipp firm with a total investment value of £130m enters administration | ADMINISTRATION

GPC Sipp Limited, a firm specialising in providing technical...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources