Famous North Yorkshire brewery to go into administration
Black Sheep Brewery near Masham had been exploring a potential sale, as it struggled with rising costs
Last updated 2nd May 2023
A famous North Yorkshire brewery has announced plans to appoint administrators as it continues to struggle with costs.
Last month, Black Sheep Brewery announced a review of the business, including a potential sale.
But in a fresh statement issued today (May 02), the company said it had to decided to appoint administrators to "protect the interests of its creditors".
Chief executive Charlene Lyons said: "The business has been hit very hard by the pandemic and the sudden rise in all costs.
"Covid loans were useful but, in the end, could not sufficiently compensate for reduced cash flow in the long term.
"It has been the perfect storm, but the team are confident that with a new structure Black Sheep will thrive and grow as the team set course in a new direction."
The statement goes on to say: "No shares will be traded on Asset Match until further notice and the auction scheduled for 24th May 2023 has been suspended."