Brewdog's Unpaid Workers to Receive Nothing After Takeover Deal

Aberdeenshire-based Brewdog had more than £500m of debts when it was sold to US drinks firm Tilray in a £33m rescue deal.

Administrators said there were 'insufficient funds' for preferential creditors to be repaid due to lower than expected funds raised through sales of Brewdog assets and increased costs during the administration period.

BrewDog's biggest debt was to financial services group HSBC, which was owed more than £61m across various banking arms.

The report highlighted small amounts of money raised through asset sales, including a 7. 8 acre field in Potterton, Aberdeenshire, which sold to a local farmer for £41,300 and nine Brewdog vehicles that made only £6,250 from one sale.

AlixPartners said it worked with landlords and lawyers to remove 'unauthorised occupiers' who gained access to closed Brewdog pubs after unforeseen costs around security were cited as a factor in the collapse.

BrewDog's owner Tilray has been approached for comment on the situation, while Brewdog founder Martin Dickie admitted 'many mistakes' and said he was 'heartbroken' over the collapse of his business.