Independent brewery falls into administration

Lincolnshire-based Tom Woods Beers appointed administrator Charles Ranby-Gorwood of CRG Insolvency & Recovery as administrator earlier this month (June 2).

The brewery’s accounts were overdue for filing, according to Companies House. It had been operating under a CVA since December 2014, whereby it had been scheduled to make four consecutive monthly payments to creditors of more than £2,000, followed by 35 payments of £4,000 or more.

Tom Woods was £7,000 in arrears with these payments, according to a report released in February, but had paid back £76,000 owed to creditors. The CVA would fail if the firm failed to make three monthly contributions to the scheme.

Failed to make three monthly contributions​

Ranby-Gorwood told FoodManufacture.co.uk there had been enquiries into buying the brewery firm, but it would take some time before a deal is agreed.

“Sometimes you see businesses sold relatively quickly – some administrators will pre-pack the sale. We’re not going to do that,”​ he said.

“We’re accepting that it may take some time before this business will be sold or be put into a suitable form for it to come out of administration. I don’t think that will be days – it will be weeks.”​

According to Ranby-Gorwood, the company owns the brands and has an established customer base, but it does not own the brewery plant from which it operates.

Does not own the brewery​

“I can only sell the amount of plant that it​ [Tom Woods] does own and I can make sure we’re dealing with the customers and the brands itself, which alters things slightly for some.​

“Therefore, in the meantime, the business will trade until we find a suitable exit route for it.”​

Established in 1995, Tom Woods Beers produces more than 170,000 pints of beer a week from its site in Melton Ross near Barnetby. Its range of beers are available in pubs across the north-east of England.

Meanwhile, last month Marston’s agreed to acquire the brewing business of Charles Wells Group in a deal worth £55M​, which will see the brewer expand its presence in the UK.