Three hauliers have been left counting the cost of doing business with Scottish multinational brewery and pub chain Brewdog, which accrued more than £500m of debts before calling in the administrators in March this year.
According to the administrators report, Brewdog owed Aberdeenshire haulier ARR Craib just under £1.6m - one of the largest amounts owed by the brewing company to hundreds of unsecured creditors listed in the administrators report.
DSV Road has also been left out of pocket, with the brewer owing the logistics firm £61,190, whilst Dutch multi-modal logistics company Samskip is owed £53,626.
After establishing that Brewdog was “not sufficiently cash generative” to be restructured or to continue as a CVA, the administrators engineered a pre-pack sale which saw Brewdog sold to US drinks firm Tilray in a £33m deal.
The sale saw 376 employees transferred to the new owners and another 444 staff made redundant.
Brewdog’s biggest debt is £61m, which it owes to various subsidiaries of financial services group HSBC.
The administrators report reveals that even though HSBC is the senior secured creditor it would still suffer a “material shortfall”.
US private‑equity group TSG Consumer Partners is owed £27.6m, but it is not expected to get any money back.
Other unsecured creditors will see returns of less than 1p in the pound on nearly £190m of debt, the report reveals.
However HM Revenue & Customs is expected to be paid back in full for more than £4m it is owed.
ARR Craib, which is part of the Gregory Group, declined to comment when contacted by MT.
Requests for comment from DSV Road and Samskip have yet to receive a response.
