Somerset Ales, a microbrewery trading under the Quantock Brewery brand, has been saved from administration.
On 10 February Mark Phillips and Scott Bastick, Directors of SKSi were appointed joint administrators of Somerset Ales Limited, trading as Quantock.
The Somerset-based brewer was placed into administration after Covid hit over the counter sales, despite trading successfully through lockdowns by offering a home delivery service.
Mark Phillips commented: “The business is at a point where it needs significant investment to increase their brewing capacity to meet demand and, as a result of the impact to finances of the Covid pandemic, the existing shareholders were not prepared to invest further which led to the administration.”
He said that contracts have been exchanged for the sale of the business and assets, some of which have already been transferred, including the operation of the tap room and shop, and online sales to the general public.
The new owners of the brewery is newly formed Quantock Ales Ltd, which will operate the brewing and distribution to trade customers alongside the administrators while the new company licence applications relating to the brewing are being processed.
The new owners have already invested in the acquisition of additional brewing capacity to meet existing demand and have provided working capital in order that the company can continue to trade in administration.
Nainene and Katalin Urquhart, Directors of Quantock Ales Ltd commented: “We are hugely excited to be involved with Quantock Brewery, supporting the existing team to sustainably grow this vibrant beer brand.
“Investment is in place to ensure new brewing equipment will be in installed at the end of March, which will enable production to increase by a factor of three, giving the business a stable foundation to build for the future. We look forward to working with our customers and suppliers over the years ahead”.
Somerset Ales bought Quantock Brewery, founded in 2007, out of administration itself by related shareholders in 2017 after a CVA was rejected by creditors.
Quantock Brewery rescued from administration