Black Sheep Brewery in Administration....

sherlock1969 said:
Yorkshire Post 9 hours ago

www.yorkshirepost.co.uk

The Black Sheep Brewery announces intention to appoint administrators after facing 'perfect storm'

The Black Sheep Brewery has announced that it intends to appoint administrators to protect the interests of its creditors after the business was hit by a “perfect storm” caused by the pandemic and rising costs.
www.yorkshirepost.co.uk www.yorkshirepost.co.uk
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Can someone explain how appointing administrators protects the creditors? Invariably in administrations it appears as if the only people getting anything out of the process are the administrators, and creditors get a penny in the pound if they're lucky.
 
Just watch how the current "Chief Exec" eventually comes out of this.
Knows nothing whatsoever about brewing, beer, the licensed trade or FMCG, but she didn't work for Mike Ashley for nothing.
The tragedy is that the beer is wonderful, the brand story is appealing, but the family have been incompetent for almost the last two decades and incredibly welcomed her in.
They have tried to run a plc like a family business despite having only 10% of the shares. It's been possible because of the bizarre fragmented hobby shareholder set up, who have never had a dividend in 30 years and never rebelled because of a misguided loyalty to PT.
Lyons blames cost pressures like it is a radical, unexpected and new news. You couldn't make up the ineptitude that has left this business that had such wonderful potential at the mercy of scavangers in Black Sheep clothing.
I feel for most of the 70 or so people working at Masham.
 
RedAsABeetroot said:
Can someone explain how appointing administrators protects the creditors? Invariably in administrations it appears as if the only people getting anything out of the process are the administrators, and creditors get a penny in the pound if they're lucky.
Click to expand...
It stops the owners asset stripping and secreting funds etc, they are also duty bound in law to obtain the best possible prices for the business and assets.
 
That’s a shame, It’s my old man’s favourite beer. You don’t see it in many boozers these days mind, there lies the problem.
 
indeedido said:
Just watch how the current "Chief Exec" eventually comes out of this.
Knows nothing whatsoever about brewing, beer, the licensed trade or FMCG, but she didn't work for Mike Ashley for nothing.
The tragedy is that the beer is wonderful, the brand story is appealing, but the family have been incompetent for almost the last two decades and incredibly welcomed her in.
They have tried to run a plc like a family business despite having only 10% of the shares. It's been possible because of the bizarre fragmented hobby shareholder set up, who have never had a dividend in 30 years and never rebelled because of a misguided loyalty to PT.
Lyons blames cost pressures like it is a radical, unexpected and new news. You couldn't make up the ineptitude that has left this business that had such wonderful potential at the mercy of scavangers in Black Sheep clothing.
I feel for most of the 70 or so people working at Masham.
Click to expand...
Charlene Lyons is pretty bright. She did work for M&S in a previous life. It might be obvious but cost pressures and Covid are the reasons many companies are struggling, and I'm sure Black Sheep is no different.
 
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