Winchester's Red Cat Brewing goes into liquidation
A Hampshire-based brewery, which produced a range of award-winning beers, is closing its doors, having gone into liquidation.
Winchester-based Red Cat Brewing Ltd, was established a decade ago and is now being wound up voluntarily. Joint liquidators have been appointed from Azets, of Chandler's Ford, Southampton.
It comes as the number of UK breweries becoming insolvent has risen significantly over the past year, according to official data.
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Red Cat Brewing was started in 2013 by Iain McIntosh, who formerly ran The Flower Pots Brewery in the village of Cheriton, and Andy Mansell, previously landlord of The Fulflood pub in Winchester. The former resigned as director in 2018.
The business reportedly received wide acclaim for its beers, winning several regional awards, including being named the winner at the 2015 Salisbury Winterfest, while its Mr M’s Porter was also voted Camra Champion Porter of Britain in 2018.
Mansell wrote on a Facebook post on June 9 this year: "Red Cat Brewing has entered administration, but I would really like to thank everyone that has been with us along the way, and I mean EVERYONE… customers, staff, friends, family and the awesome open day crew, you have all been amazing during the journey.
"However, like many others, unfortunately we didn't make it. I'm sorry for the radio silence but there has been lots to do in the best interest of the company," he added.
"We have had some amazing times along the way, we have had some great laughs and made memories that will stay forever, not to mention making some great friends… We may have enjoyed a pint or two along the way…
"I really hope that everyone out there remembers Red Cat fondly, and I hope we made at least one beer that you enjoyed."
Internationl audit, tax and advisory firm Mazars noted that the number of UK breweries, largely smaller craft breweries, becoming insolvent had jumped to 45 in the year to March 31, 2023, up from 15 in the previous year, according to data from the Insolvency Service.
Associate director Paul Maloney suggested that even without the cost-of-living crisis there would have been a major shakeout of the market.
"Craft brewers often offer ‘premium’ beers, but consumers are turning to cheaper options. As such, discounted brands produced by large international brewers and supermarket own brands are increasingly the choice for consumers.
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"The craft beer market became heavily overpopulated over the last decade. The cost-of-living crisis now means many of these brewers are fighting for a place in a shrinking market. Some of them will not make it," he said.
Examples of breweries that have entered administration in the past year include Tyne Bank Brewery and London-based Boxcar Brewery.
But, in contrast, according to The Times, investment director Neil Gostelow of Breal Capital, which this year has rescued three troubled breweries, reckons craft beer in Britain does have a decent future, and those breweries still standing have strong prospects.
"You need to look at the US," he was quoted as saying.
"We are probably lagging five years behind the US. It went through that massive expansion and then got into trouble. You saw a lot of small breweries starting to fail. Now you see craft ale is a growing market there."
