Redwell Brewery was placed into administration this month but has been purchased by a team of investors, the Norfolk craft brewery has revealed.
The investment secures the futures of the four staff still employed by the brewery which has suffered a turbulent time in recent years. The brewery was founded in 2013 by Amy Hancock and Patrick Fisher and quickly established itself as a recognised brand with its beers being sold in supermarket chains Aldi and Tesco. However, rapid growth and a number of high profile trademark disputes caused the brewery to run into financial difficulties and it was eventually placed into administration on Monday (4 December).
Keeping the brand alive
After a bidding process led by the administrators a group of local investors led by John Hughes and Warren Thorp have been appointed the new owners of the business. The investors are currently speaking to Redwell's suppliers and local customers with the aim of keeping the brand alive in Norwich and beyond. Explaining the decision to go into administration Hancock said: "It became clear the only way to continue brewing, save jobs and fulfil customer orders was to place the company into administration. It was an extremely difficult decision to make. I've put everything into Redwell and will walk away with nothing but I desperately wanted the name to live on."
She continued: "I'm still massively proud of the brand I co-founded and felt the most important thing was to protect the jobs of our incredibly loyal staff by securing the future of the business, even though this means it is no longer mine."
Speculation has been rife about the brewery's future after a classified advert was placed on the Society of Independent Brewers (SIBA) website last month. The advert offered potential investors the chance to buy "an East Anglian based award winning craft brewery" for an offer in excess of £30,000.
The administrators of Craft Brewing Company LImited, which owned Redwell Brewing, are working to maximise realisations in order to pay back creditors, the brewery has said.