Honest Brew Ltd (08276744): administration
- Status
- Administration ended
- Administration began
- 2022-06-17
- Administrators
- Charles Hamilton Turner, Allister Manson
- Administrators' firm
- Opus Restructuring
- Formerly
- Honestbrew Ltd
- Incorporated
- 2012-11-01
- Location
- Milton Keynes
- Industry
- 11050 Manufacture of beer
Why it went into administration
- Funding withdrawn / unable to refinance
- COVID-19
- Supply chain disruption
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company traded as an online subscription and retail service providing specialist and craft beers.
The Board advised that the Company had become insolvent as it was unable to “break out” into the mass market and attract sufficient customers in order for it to consistently trade profitably, primarily due to the following factors:
• The outbreak of COVID-19 and knock-on effect to the business which caused issues, such as a downturn in sales/subscriptions and supply chain issues
Administrators' statement of proposals (2022-09-26) · Companies House register