1 day ago
8
The brewery radical down brands specified arsenic Black Sheep and Fourpure is to beryllium rescued from the brink of illness by Saltaire Brewery, a Yorkshire-based rival.
Sky News has learnt that the aboriginal of Keystone Brewing Group, which has filed a bid of notices of its volition to name administrators successful caller weeks, is adjacent to being salvaged successful a woody which could instrumentality spot arsenic aboriginal arsenic Thursday.
Saltaire is understood to person projected a woody which would support Keystone's workforce, which is thought to fig betwixt 150 and 200 people.
The transaction is expected to instrumentality spot done a pre-pack administration, nether which insolvency practitioners enactment up a purchaser to get a company's assets arsenic soon arsenic it is placed into administration.
Sky News revealed successful January that Keystone, which has income and organisation agreements with brands specified arsenic Magic Rock and Hofmeister, was adjacent to illness arsenic it grappled with a toxic cocktail of surging costs and waning user confidence.
Some of the beers successful Keystone unchangeable are among the best-known successful Britain, with Black Sheep having been founded successful 1992 by a subordinate of the Theakston brewing family.
Black Sheep antecedently fell into medication successful 2023, earlier being rescued by its existent owner, Breal - which itself had rescued a fig of smaller brewers from illness successful caller years.
Keystone is tally by manufacture seasoned Steve Cox, who joined the institution past twelvemonth with a little to deed a £100m yearly income people by 2028.
Saltaire is owned by Paramount Retail Group, a conglomerate with interests spanning petfood, confectionery, DIY and location interiors.
FRP Advisory, the nonrecreational services firm, is handling the preparations for insolvency.
A spokesperson for FRP declined to comment, portion Saltaire's owner, Paramount, has been contacted for comment.
English (US) ·