Weightmans advise administrators in sale of business and assets of North Brewing

Advising the joint administrators from Weightmans were a national multi-disciplinary team led by insolvency partner, Charles Boyne, principal associate, Kiri Hutton, and legal executive, Shauna-Leigh Thompson. 

Based in Leeds, North Brewing Co supplied several supermarkets and casual dining chains nationally, as well as exporting to 27 countries worldwide. In line with many companies within the hospitality sector, the company’s financial performance suffered during Covid-19, with rising costs in recent months having a negative impact on cashflow. 

After exploring several options, the directors took steps to file for the appointment of administrators, which eventually sold the company and its assets to Vertical Drinks Limited and owner of Kirkstall Brewery Limited, Steve Holt (as part of one transaction). This safeguards the brewery's future in Leeds and its North Taproom bars in Leeds and Manchester, with 78 jobs transferred to the purchaser as part of the deal. 

Weightmans insolvency and restructuring partner, Charles Boyne, said: 

“It’s been great to get this pre-pack deal over the line and ensure continuity of employment in Yorkshire and the North West. The team has worked tirelessly throughout the transaction.” 

North Brewing Co will continue to be an independent brewery operating from its Springwell site in Leeds and will be run by the existing management team. The new company will be known as Vertical Drinks Ltd T/A North. 

The joint administrators are Howard Smith and Rick Harrison of Interpath Advisory. 

Tom Swiers, head of food and drink at Interpath Advisory, said: 

“We’d also like to thank Weightmans for its work in helping drive this transaction to a successful conclusion.” 

The Weightmans team consisted of Charles Boyne, partner (insolvency and restructuring); Kiri Hutton, principal associate (insolvency and restructuring); Frank Jones, associate (insolvency and restructuring); Shauna-Leigh Thompson, legal executive (insolvency and restructuring); Kerry Waters, legal director (employment); Judy Lankester, principal associate (real estate); and Nathan Bilton, partner (commercial).