Independent beer maker Black Sheep Brewery has filed a notice of intention to appoint administrators after the search for a buyer or merger failed.
The Masham-based brand, which supplies pubs and retailers across the country, said it was taking the action in the best interests of its creditors. It follows news that Black Sheep received no offers amid a marketing exercise started in early April and designed to find a buyer or merger partner to alleviate funding concerns.
Shares in the London Stock Exchange-listed business have been suspended as Black Sheep filed notice to appoint Kristian Shuttleworth and Clare Boardman of Teneo Financial Advisory Limited as administrators. When announcing it was searching for a buyer, Black Sheep said it had been experiencing strong sales volumes but pointed to the health of the hospitality market post-Covid and consumer spending impacting on funding options.
