Latest news with #JamesTaylor
Yahoo
2 hours ago
- Business
- Yahoo
BrewDog to close ten UK bars amid 'continued challenges' in hospitality
BrewDog has announced the closure of ten of its bars across the UK, as it faces the "continued challenges" in the local hospitality sector. The closures will affect venues in Aberdeen, the group's flagship bar, Brighton, Camden, Dundee, Leeds, Oxford, Sheffield, York and two locations in London. The exact number of jobs impacted remains unclear. Just Drinks asked BrewDog to confirm the number of staff working at the affected bars. The company declined to comment but said it would look to "redeploy" as many employees as possible. After the bars are closed, BrewDog will have 49 outlets left in the UK. In a communication to staff, BrewDog chief executive James Taylor attributed the closures to "continued challenges facing the UK hospitality industry", such as 'rising costs, increased regulation, and economic pressures". He added that the move was "part of the wider refresh we have set out, and it aligns with our renewed focus on innovation, quality, and a new brand identity. It positions our bar portfolio for long-term, profitable growth". He further explained that maintaining these venues would place the broader business under pressure, "making it harder to invest where we know we can grow". Taylor was promoted to the position of CEO in March, replacing James Arrow who left after less than a year in the role. He had worked at BrewDog as its financial chief since November 2023. The company has initiated a consultation process for affected staff that will last a minimum of 14 days. A BrewDog spokesperson said: 'We are working hard to minimise the impact on our people, and we expect to redeploy many affected team members across the BrewDog network." According to Bryan Simpson, national lead for hospitality at the Unite union, the Elvis Juice brand owner gave employers under four days' notice. 'For Brewdog to give loyal workers less than 4 days' notice of the closure of their workplace is not just morally repugnant, it is potentially unlawful," said Simpson. "This is yet another example of a company that doesn't have the slightest regard for basic employment law let alone the welfare of their workers. We are currently supporting our members across these 10 sites to collectively challenge these redundancies, and we would urge anyone impacted to reach out to us for legal support." In June, BrewDog's chief reportedly said the company was not making moves towards filing an IPO. In a report from The Times, BrewDog's chief James Taylor said an Initial Public Offering (IPO) was 'not on the agenda at the moment', as the company announced a return to profitability for the first time since 2021. The company, which at the time confirmed Taylor's comments to Just Drinks, said the CEO remained 'focused on strategy and delivery'. "BrewDog to close ten UK bars amid 'continued challenges' in hospitality" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
15 hours ago
- Business
- Yahoo
BrewDog to close 10 pubs after Labour tax raid
BrewDog is shutting 10 bars across the country in the wake of Labour's tax raid on employers in the latest blow for the hospitality sector. The self-styled 'punk' brewer said on Tuesday it would close key locations such as Leeds, Sheffield, and London, as well as its flagship site in Aberdeen, and had begun a consultation with staff about redundancies. A spokesman for BrewDog called it a 'rationalisation' of the company's bar estate. 'Despite our best efforts, and the hard work of our teams, it has simply not been possible to make these bars commercially viable,' they said. In a letter sent to staff this week, James Taylor, chief executive, said the closures were part of a broader restructure of the company. He added: 'It positions our bar portfolio for long-term, profitable growth, but also takes into account the continued challenges facing the UK hospitality industry, including rising costs, increased regulation, and economic pressures.' The closures come as hospitality businesses across the UK grapple with soaring labour costs following an increase in employers' National Insurance (NI) contributions and the lowering of the threshold at which they are paid. Hospitality chiefs have argued that these changes will disproportionately hurt the sector because of the number of part-time and lower paid staff it employs. Many have already cancelled investments and paused hiring, while others have announced redundancies. A spokesman for BrewDog refused to disclose exactly how many jobs would be affected, but said 'every effort will be made to made to redeploy as many members of staff as possible'. Recent struggles Founded in 2007 by James Watt and Martin Dickie, BrewDog became one of Britain's biggest beer brands by using controversial marketing stunts. These included selling what they claimed was the world's strongest beer – served in the carcass of a squirrel – and hiring a tank to drive through London. Mr Watt claimed the business had a 'punk' ethos and frequently criticised the practices of big brewers like Budweiser's owner AB InBev. The company raised millions from thousands of retail investors it called 'equity punks'. However, in recent years it has struggled with accusations of being a 'toxic' workplace and questions over its finances. Mr Watt stepped down last year and has since launched a new company called Social Tip, though he still retains a seat on the board and a 21pc stake in the company. Mr Taylor, who took charge of the company in March, has shelved plans for a stock market float, saying in June that there were no plans to sell the business. Instead, he vowed to put the company on a more solid financial footing having made consistent losses. BrewDog's bar business posted a pre-tax loss of £6.7m in 2023 on revenues of £69.4m. This was down from an £11m loss in 2022. The closures will leave BrewDog with 49 bars across the country. It runs more than 100 across the world. Mr Taylor insisted in his letter the company was 'passionate' and still saw a 'significant long-term opportunity' for the brand's bars in the UK. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Map shows where 10 BrewDog bars are closing this week
BrewDog is set to close 10 of its bars within days, blaming factors like rising costs and increased regulation in the industry. The closure plans will see all the bars close on 26 July in locations across the country – including BrewDog's first ever venue in Aberdeen. The Scottish craft brewing giant said it has made efforts to preserve the site, but it 'has simply not been possible to make these bars commercially viable'. Chief executive James Taylor told staff the closures are part of a refresh of its estate, partly in response to 'rising costs, increased regulation, and economic pressures' on the sector. He added that the brand will however still look to grow its bar business, with plans for more larger bars in 'destination' locations and to open smaller community bars. A consultation process lasting at least 14 days will be launched following the closures, which will put close to 100 jobs at risk. Where are the BrewDog bars that are closing? Bars are being closed in major cities across the UK – including three in London. Two bars will be closed in Scotland, while the other five affected are in England. Click our interactive map below to see which 10 bars will be closing on 26 July: How many BrewDog bars are there? BrewDog has established a global presence with over 100 bars worldwide. In the UK, the company operates 71 bars, including 17 in Scotland, where it was founded in 2007. These bars are spread across cities like London, Edinburgh, and Manchester. Scotland's 17 locations reflect the company's roots in Fraserburgh. London is where most BrewDog bars are situated, with 21 currently open in the capital. Beyond the UK, BrewDog's international footprint includes approximately 30-40 bars in markets like the US, Australia, Germany, and Japan. The tally in the UK will drop to 61 bars after the closures on 26 July. Who owns BrewDog? BrewDog was founded in 2007 by James Watt and Martin Dickie in Fraserburgh, Scotland. Watt, the public face of BrewDog, stepped down as CEO in May 2024 after 17 years. He transitioned to a non-executive role as 'captain and co-founder,' retaining his 21% stake. James Arrow, former COO, briefly took over as CEO. In March 2025, Arrow also stepped down for personal reasons, and James Taylor, who was BrewDog's former CFO, became CEO. Taylor now runs the company alongside COO Lauren Carrol. US private equity firm TSG Consumer Partners also holds a 22% stake in the company, while BrewDog's community of investors – known as Equity Punks – have invested in the company through crowdfunding initiatives and hold over 25% of the company's shares.
Daily Record
a day ago
- Business
- Daily Record
All the remaining Scottish BrewDog bars after beer giant announces closures
The Scottish-founded beer firm will have 15 remaining pub locations across the country after its closure announcement this week. BrewDog is set to close down 10 UK bars soon. The move will see it shut the doors on two of its branches that are based in two Scottish cities. The decision has affected the craft beer firm's first ever pub, its Aberdeen flagship branch that is based on Gallowgate and has been open to beer lovers across the north-east since 2010. Meanwhile, BrewDog fans in Dundee will also be disheartened by the recent news, as the city centre's branch on Panmure Street will also be closing down. It means that the Scottish-founded firm's bar portfolio across Scotland will reduce from its current 18 to 16. There will now only be three of the brand's pubs in the Granite City. Edinburgh still boasts six locations, including two Doghouse sites, with two in Glasgow, and others dotted around the country. This includes a Dogtap bar attached to the brewery in Ellon, Aberdeenshire, where it all began for BrewDog. Scotland is not the only country affected by the closures, as eight other pubs across the UK based across England in locations including York, Shoreditch, and Oxford will also be closing down. We recently reported that BrewDog's wave of closures comes amidst a new "focused strategy" and "rationalisation" of its bar footprint, with the affected locations deemed "not commercially viable." According to CEO James Taylor, keeping open the affected locations would "put pressure on the wider business, making it harder to invest where we know we can grow." The company also advised that it has been affected by other factors putting pressure on the UK hospitality sector such as rising costs, increased regulation, and economic pressure. Despite reports suggesting that staff members at the affected locations said to have been given just "three days notice", a spokesperson has said it is going through "meaningful and appropriate consultation process" that will last a minimum of 14 days. However, the decision was blasted by Unite Hospitality on X, formerly Twitter, recently, with the union firm saying: "In what universe is THREE DAYS a morally (or legally) acceptable notice period for a proper redundancy consultation for the workers impacted?!" Founded in 2007, BrewDog began its journey in Ellon after founders James Watt and Martin Dickie began brewing tiny batches of their own craft beer that they sold at local markets. After its humble beginning in Aberdeenshire, the craft beer firm quickly went global in 2013 with the opening of its first ever international bar in Stockholm, Sweden, before heading to America in 2015. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. As of today, it is ranked as "the seventh-largest beer brand in Britain", with availability across 57 countries and its beers being sold in over 129 bars and widely distributed internationally. Famed for its non-traditional advertising methods, BrewDog generated interest through free media coverage through provocative campaigns, controversies and publicity stunts. Following its Scottish roots and the announcement of its closures, we have decided to list below all the remaining 15 BrewDog locations that will still be available for beer lovers across the country. Full list of remaining BrewDog branches across Scotland: Aberdeen Castlegate Aberdeen Kennels Aberdeen Union Square Edinburgh Airport Doghouse Edinburgh Bar and Terrace Edinburgh Cowgate Doghouse Edinburgh Hotel Edinburgh Lothian Road Edinburgh Waverley Dogtap Ellon Glasgow Kelvingrove Glasgow Merchant City Inverurie Perth St Andrews Stirling
Telegraph
2 days ago
- Business
- Telegraph
BrewDog to close 10 pubs after Labour tax raid
BrewDog is shutting 10 bars across the country in the wake of Labour's tax raid on employers in the latest blow for the hospitality sector. The self-styled 'punk' brewer said on Tuesday it would close key locations such as Leeds, Sheffield, and London, as well as its flagship site in Aberdeen, and had begun a consultation with staff about redundancies. A spokesman for BrewDog called it a 'rationalisation' of the company's bar estate. 'Despite our best efforts, and the hard work of our teams, it has simply not been possible to make these bars commercially viable,' they said. In a letter sent to staff this week, James Taylor, chief executive, said the closures were part of a broader restructure of the company. He added: 'It positions our bar portfolio for long-term, profitable growth, but also takes into account the continued challenges facing the UK hospitality industry, including rising costs, increased regulation, and economic pressures.' The closures come as hospitality businesses across the UK grapple with soaring labour costs following an increase in employers' National Insurance (NI) contributions and the lowering of the threshold at which they are paid. Hospitality chiefs have argued that these changes will disproportionately hurt the sector because of the number of part-time and lower paid staff it employs. Many have already cancelled investments and paused hiring, while others have announced redundancies. A spokesman for BrewDog refused to disclose exactly how many jobs would be affected, but said 'every effort will be made to made to redeploy as many members of staff as possible'. Recent struggles Founded in 2007 by James Watt and Martin Dickie, BrewDog became one of Britain's biggest beer brands by using controversial marketing stunts. These included selling what they claimed was the world's strongest beer – served in the carcass of a squirrel – and hiring a tank to drive through London. Mr Watt claimed the business had a 'punk' ethos and frequently criticised the practices of big brewers like Budweiser's owner AB InBev. The company raised millions from thousands of retail investors it called 'equity punks'. However, in recent years it has struggled with accusations of being a 'toxic' workplace and questions over its finances. Mr Watt stepped down last year and has since launched a new company called Social Tip, though he still retains a seat on the board and a 21pc stake in the company. Mr Taylor, who took charge of the company in March, has shelved plans for a stock market float, saying in June that there were no plans to sell the business. Instead, he vowed to put the company on a more solid financial footing having made consistent losses. BrewDog's bar business posted a pre-tax loss of £6.7m in 2023 on revenues of £69.4m. This was down from an £11m loss in 2022. The closures will leave BrewDog with 49 bars across the country. It runs more than 100 across the world. Mr Taylor insisted in his letter the company was 'passionate' and still saw a 'significant long-term opportunity' for the brand's bars in the UK.
