BrewDog Retail staff to get nothing in administration as costs surge
Redundant BrewDog Retail workers owed around £489,000 in wages and holiday pay will receive no payout from the company's administration, administrators AlixPartners have confirmed. HMRC will also get nothing towards its £2.4 million VAT, PAYE and National Insurance claim.
The latest progress report blames collapsed deals to transfer pub leases to third-party operators, which drove up legal, property and security costs, alongside expenses from removing squatters who broke into shuttered bars. Unsecured creditors owed an estimated £207.6 million will also receive nothing.
Parent company BrewDog PLC remains on course to pay HMRC in full on its £3.66 million tax bill. HSBC faces a £16.76 million shortfall, while backer TSG Consumer Partners expects a total wipeout of its £27.6 million secured loan notes.
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