BrewDog Administrators Report Insufficient Funds for Creditors

Administrators have reported that there are insufficient funds to pay preferential creditors of BrewDog's retail arm following its collapse and a rescue deal by Tilray Brands. The report from AlixPartners, filed at Companies House, confirms that staff owed £489,000 in wages and holiday pay, as well as HM Revenue and Customs for £2.4 million in unpaid taxes, will receive nothing from the administration of BrewDog Retail Limited. Unsecured creditors of the parent company, BrewDog PLC, who are owed approximately £190 million, are expected to recover less than one penny for each pound owed. HSBC, a secured creditor, is owed £31.2 million and is projected to recover about £14.5 million, leaving a shortfall of £16.8 million. The shortfall for preferential creditors is attributed to lower-than-expected property realisations and increased administration costs, including security and legal fees to remove unauthorized occupiers from closed bars. The administration process followed Tilray's acquisition of BrewDog's brand, intellectual property, UK breweries, and 11 bars in March 2026 for about £33 million.