North pulled back from brink
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Award-winning Leeds brewery North Brewing (above) has been rescued from the brink of administration by Kirkstall brewery.
North, formerly North Brewing Co, revealed in January it had planned to appoint administrators due to rising costs and trading problems.
Now, a deal has been struck with Kirkstall, effectively rescuing North.
The move will allow North to continue operating as an independent brewery with the existing management team from its Springwell site.
In 2020, North opened its multi-million pound Springwell site, which allowed it to double its capacity to the equivalent of 2.8m pints a year and the company quickly expanded operations into Europe.
The rescue follows a torrid trading time for North which was pummelled by the fallout from Covid, the cost-of-living crisis, inflation, Brexit and utility price increases.
North’s John Gyngell said: “We are pleased to have found a solution for our team and the legacy of the North brand.”
Kirkstall founder Steve Holt said: "We’ve been friends and industry colleagues for almost 30 years. North is an iconic beer brand that had to continue. Together we’ll make sure that North will continue to make some of the best beer in the country."
"We recognise that this has been a really difficult time for the stakeholders and creditors."
The new company will be known as Vertical Drinks Ltd T/A North. Howard Smith and Rick Harrison of Interpath Advisory were appointed advisors of North Brewing Company Limited, North Brewing Leisure and North Brewing Management Limited.