Brew By Numbers Ltd. (07985804): administration
- Status
- Administration ended
- Administration began
- 2023-06-14
- Administrators
- Colin Hardman, Martyn Ewing
- Administrators' firm
- S&W Partners
- Incorporated
- 2012-03-12
- Location
- London
- Industry
- 11050 Manufacture of beer
Why it went into administration
- HMRC / tax arrears
From the administrators' statement
The Company, established in 2012, previously operated from three distinct locations: Bermondsey (The Arches), Peckham, and Morden Wharf. Operations at the Peckham location ceased in November 2021, with the Company consolidating its activities at the Bermondsey and Morden Wharf sites, supporting a workforce of 15. Over its history, the Company has produced in excess of 350 beer varieties and secured supply agreements with premier supermarkets, notably Tesco Plc, Marks & Spencer Plc, and J Sainsbury Plc.
Prior to our appointment as joint administrators, we acted as advisors to the Company via its sole director, Mr. Tom Hutchings, who was introduced to Finbarr O'Connell, by the Company's financial advisor. Our initial engagement encompassed an assessment of the Company's financial health with a special focus on its financial Liabilities. In consultation with the director, we considered the viability of initiating an insolvency process, particularly if the Company failed to procure additional capital, either through Crowdfunded equity, other equity raises or through alternative financial avenues. We attended a number of meetings with potential funders.
Ultimately, it was deemed that the most prudent approach to safeguard creditors’ interests was to pursue a prepacked sale of the Company's business and assets. Evelyn Partners commenced an accelerated marketing process for the pre-packaged sale of the business and assets of the Company. This process became controversial as there were concerns that the director was attempting to direct the sale to a connected party.
Administrators' statement of proposals (2023-08-05) · Companies House register