Looking for the original Bar Towel blog? You can find it at www.thebartowel.com.

We have a trivia question in order to register to prevent bots. If you have any issues with answering, contact us at cass@bartowel.com for help.

Introducing Light Mode! If you would like a Bar Towel social experience that isn't the traditional blue, you can now select Light Mode. Go to the User Control Panel and then Board Preferences, and select "Day Drinking" (Light Mode) from the My Board Style drop-down menu. You can always switch back to "Night Drinking" (Dark Mode). Enjoy!

One of Canada’s biggest brewing equipment companies in receivership

Discuss beer or anything else that comes to mind in here.

Moderators: Craig, Cass

Post Reply
GtownRandy
Posts: 321
Joined: Fri Apr 15, 2016 8:17 am

One of Canada’s biggest brewing equipment companies in receivership

Post by GtownRandy »

https://bensbeerblog.com/2018/11/26/one ... eivership/

This may have big impact on small breweries that have already paid for, but not received equipment

Cadbury102
Posts: 76
Joined: Mon Sep 30, 2013 8:34 am

Post by Cadbury102 »

This is terrible news. I saw on instagram today that Indie Alehouse had lost 800k for an upcoming upgrade. My heart goes out to them and smaller breweries that won't be able to make ends meet with this unfortunate turn of events. Let's hope that some of the bigger craft breweries can help out some of the smaller burgeoning breweries.

User avatar
Belgian
Bar Towel Legend
Posts: 10033
Joined: Sun Jul 04, 2004 7:15 pm
Location: Earth

Post by Belgian »

This is bull#$t. Isn't anybody insured against such an up-front expense?

Seems like a ludicrous risk, so where exactly did the money go, and who at the manufacturing co. saw this coming and said nothing?
In Beerum Veritas

portwood
Posts: 355
Joined: Sun Oct 04, 2015 7:56 pm
Location: Markham
Contact:

Post by portwood »

Belgian wrote:This is bull#$t. Isn't anybody insured against such an up-front expense?

Seems like a ludicrous risk, so where exactly did the money go, and who at the manufacturing co. saw this coming and said nothing?
I don't know much about the brewery equipment business but I'd have a hard time putting up $800K as a deposit on anything... for a relatively small company, $800K would be huge (I can't see most of these breweries having capitalization anywhere near that to begin with), so it would be highly foolish to put up that kind of money at risk.

From the press release I read, it appears that Indie's bankers (Business Development bank of Canada, IIRC) has them covered. Which suggests they are/were the banker for both sides of these equipment deals
@markhamwhisky

Post Reply