Craft Brewing Limited and Bottom Heavy Asset Management Limited which traded as Redwell Brewery based in Norwich was placed into administration on 4 December 2017 with Chris McKay and Andrew McTear of Norwich based business rescue and insolvency specialists McTear Williams & Wood Limited appointed joint administrators.
The company was recently awarded two contracts to supply two blue chip supermarkets with products which the present directors believe are profitable although the years of losses have put pressure on cashflow.
The business and assets have been sold to Three Arches Brewing Limited saving four jobs and the continued supply of this well known local brand.
Joint administrator, Chris McKay commented: "We are pleased to be able to achieve the smooth transfer of the brand at a premium which should enable a dividend to be paid to creditors."
4 December 2017