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One of Canada’s biggest brewing equipment companies in receivership
Posted: Tue Dec 04, 2018 2:21 pm
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
Re: One of Canada’s biggest brewing equipment companies in receivership
Posted: Tue Dec 04, 2018 8:47 pm
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.
Re: One of Canada’s biggest brewing equipment companies in receivership
Posted: Tue Dec 04, 2018 10:13 pm
by Belgian
This is bull#$t. Isn't anybody insured against such an up-front expense?
Seems like a ludicrous risk, so where exactly did the money go, and who at the manufacturing co. saw this coming and said nothing?
Re: One of Canada’s biggest brewing equipment companies in receivership
Posted: Wed Dec 05, 2018 8:09 pm
by portwood
Belgian wrote:This is bull#$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