Fri, 26 Mar 2021 | ADMINISTRATION
Craft brewery WooHa Brewing Company has filed for administration and is seeking a buyer for its business and assets. The company blamed the financial strains of COVID-19 and Brexit, saying it had suffered as a result of the pressures caused by the pandemic on the global hospitality and licensed trade industry, as well the increased costs for exporters following Brexit.
The Kinloss-based firm have appointed Iain Fraser and Tom MacLennan of FRP partners as administrators, and have instructed them to find a buyer for the firm. Commenting on the announcement, Mr Fraser stated that the severe impact of the events was an unfortunate hit to the firm, which has experienced rapid growth in recent years.
"Despite every effort by the directors to keep the business trading and ensure it would be able to capitalise on the recovery when it comes, the severe financial problems meant that administration was the only option," he said.
"We will also be looking to sell the business and assets, either in whole or in part as quickly as possible and would ask any interested parties to contact FRP as soon as they can."
WooHa Brewing Company was founded by Heather McDonald in 2015, and has since grown both its domestic and export business to create a number of partnerships across the UK, US, Italy and China. The firm has also recently secured a number of lucrative agreements with well-known brands, including Wetherspoons, Ocado and Amazon Prime.
Since it was launched, the business has managed to secure £2.3 million from private investors, including funds from a crowd funding campaign that helped the firm create its expansive export business ahead of the global pandemic.
View the latest distressed UK businesses here.
This is a vintage establishment and hub of community life with excellent year-round regular and passing trade. Operating from delightful detached stone-built character premises with extremely well fitted free-of-tie bar/dining facilities.
LEASEHOLD
Outstanding opportunity to acquire impressive seafront detached single-storey premises in large grounds with spacious 70-cover restaurant.
FREEHOLD
Long-established and TripAdvisor highly rated discerning food lover’s paradise offering fresh, and varied authentic fine dining menu.
LEASEHOLD
29
|
Mar
|
Caravan and motorhome retailer acquired out of administration | BUSINESS SALE
Administrators have completed the sale of a caravan and moto...
29
|
Mar
|
Financial planning business acquires Staffordshire company | BUSINESS SALE
Wren Sterling, a national financial planning business, has c...
28
|
Mar
|
NI pharmacy group acquires third site | BUSINESS SALE
A family-run community pharmacy group has expanded with the ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.