Unpaid Brewdog Workers Set to Receive Nothing Following Takeover, Administrators Say
Administrators handling the collapse say hundreds of thousands of pounds in wages and holiday pay, along with millions owed to HMRC, will go unpaid despite a takeover deal.
Workers left unpaid after a Brewdog-linked business collapse are not expected to recover any of the money owed to them, following a takeover deal, according to administrators cited by BBC Business.
Administrators said approximately £489,000 was owed to staff in unpaid wages and holiday pay at the time the company entered administration.
The company also owed £2.4 million to HM Revenue and Customs (HMRC) for unpaid VAT, according to the administrators' figures.
Despite a subsequent takeover deal for parts of the business, administrators indicated that the outstanding sums owed to former employees and to HMRC will not be recovered as part of the arrangement.
The BBC has reported the administrators' statements on the scale of unpaid wages, holiday entitlements and tax liabilities, though further details of the takeover and the reasons behind the shortfall in payments to workers were not fully outlined in the available reporting.
BBC Business has been approached for further comment on the circumstances surrounding the administration and takeover process.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
Related articles
Administrators Say Brewdog Lacks Funds to Repay Creditors After Takeover
A report from administrators indicates the brewer's takeover deal left insufficient money to cover staff pay and tax debts.
Grants, Family Benefits, Taxes: The Administrative Maze Facing Young Adults
According to Le Monde, many young people discover a bureaucratic "ordeal" upon reaching adulthood, navigating forms and digital platforms, and sometimes missing out on aid they would be eligible for.
Dangote Refinery's $1.6 Billion Share Offer Seen as Out of Reach for Many Nigerians
Africa's richest man, Aliko Dangote, is seeking $1.6 billion from investors to fund a major expansion of his oil refinery, but analysts say the offer may be unaffordable for ordinary Nigerians.
Venezuela's PDVSA Signs Energy Cooperation Deal with TotalEnergies Subsidiary
Acting President Delcy Rodriguez oversaw the signing of an agreement between state oil company PDVSA and TotalEnergies E&P New Ventures in Caracas, according to Anadolu Agency.
Fair Featuring Veteran-Owned Businesses and Craft Producers Held at Carpathian Economic Forum
Event brought together local artisans and businesses run by veterans as part of a wider regional economic gathering
Chiltern Railways becomes sixth train operator to enter UK public ownership
The London Marylebone-to-Birmingham operator is the latest to be nationalised as Labour presses ahead with plans to bring all major passenger rail services under public control by the end of 2027.
Comments
Loading comments…