Fourpure, which makes beers including Lager 4.2% ABV, Session IPA 4.2% ABV and London Haze pale ale 5.3% ABV, announced it was moving all operations from Bermondsey to Huddersfield in August this year.
The move would see all London facilities close and its beers brewed under the same roof at fellow craft brewery Magic Rock – under the ownership of In Good Company.
However, David Hudson and Phil Reynolds of specialist business advisory firm FRP Advisory were appointed as joint administrators of Fourpure on 1 October with restructuring partner Luke Wilson leading on advice to the board and stakeholders.
In Good Company unaffected
Fourpure was a wholly owned subsidiary of In Good Company (IGC), which is unaffected by this administration.
Earlier this summer, IGC had initiated steps to close Fourpure’s brewery in Bermondsey and consolidate operations with its Magic Rock brewery in Huddersfield. As a result of this consolidation, what now remains of Fourpure are its assets and intellectual property (IP).
The administrators are now focused on identifying potential buyers for Fourpure’s remaining assets and IP. As Fourpure had no direct employees, with its teams being part of IGC, there are no job losses resulting directly from the administration.
In Good Company told The Morning Advertiser: “The update to the business won’t impact staff or any of In Good Company Beverages Limited’s wider portfolio of brands.
Difficult decision
“Fourpure beer will continue to exist in the same way it does currently with its beers brewed, canned and produced at Magic Rock Brewing.”
It also confirmed IGC is not looking to sell Fourpure as “the brand and its beers will newly fall under In Good Company”.
FRP Advisory partner Luke Wilson said: “While the closure of Fourpure’s Bermondsey brewery was a difficult decision for the board and IGC, it reflects the ongoing challenges in the craft brewing sector, in which we have seen an increase of restructuring activity.
“Our focus now is on securing the best possible outcome for Fourpure’s creditors by seeking to realise the value of its remaining assets and IP, including exploring the potential of a sale.”
