Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
1–10 of 125 posts
Re: Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
#2An illustrative lesson to anyone who joins a startup with the promise of a ton of stock: the company can make it worthless whenever they feel like it. Always remember that.
As for Brewdog itself, there’s a lesson in VC mindset there as well I think. Everything doesn’t have to grow to be massive. You can stay a sustainable size if you want to. But alas the temptation to keep expanding is always too strong, and often leads to flameouts like this.
Re: Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
#3Not a Brit - but I've been seeing "times get even worse for UK pubs, with yet more closing" stories for years now.
And the BBC seems torn between lambasting a corporation for screwing the little guys...and admitting that the whole works was a hopeless money-loser, with a mountain of debt.
Re: Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
#4That's not very punk, is it?
Re: Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
#5I've been hearing buzz that the whole alcohol industry is in trouble, from a perfect storm of cultural changes that culminate in young people drinking less, and particularly drinking less in bars.
With that context, it seems notable that the booze company in question here was purchased by a "beverage and medical cannabis" corp.
Re: Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
#6An illustrative lesson to anyone who joins a startup with the promise of a ton of stock: the company can make it worthless whenever they feel like it. Always remember that. As for Brewdog itself, there’s a lesson in VC mindset there as well I think. Everything doesn’t have to grow to be massive. You can stay a sustainable size if you want to. But alas the temptation to keep expanding is always too strong, and often l…
Brewdog also sold useless stock to customers
> And they said no equity holders - including those who invested in the brewer's Equity for Punks scheme - would get any return from the deal.
Re: Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
#7I've been hearing buzz that the whole alcohol industry is in trouble, from a perfect storm of cultural changes that culminate in young people drinking less, and particularly drinking less in bars. With that context, it seems notable that the booze company in question here was purchased by a "beverage and medical cannabis " corp.
They just stated slowly appparently: https://www.ft.com/content/1ae55e45-64a6-463a-b04b-198ee3241...
Re: Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
#8No conspiracy here.
Brewdog had a loss of 37m GBP last October, and went into something similar to Chapter11(?), american company bought the remains and saved what had any value left.
So not really "evil company buys good company and fires everyone" IMHO.
edit: useless at spelling...
Re: Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
#9Not a Brit - but I've been seeing "times get even worse for UK pubs, with yet more closing" stories for years now. And the BBC seems torn between lambasting a corporation for screwing the little guys...and admitting that the whole works was a hopeless money-loser, with a mountain of debt.
Brewdog is pretty much a TGI Fridays that’s pretending to be edgy.
People very much don’t like their beers, the atmosphere feels fake, and there’s significantly better options in any major UK city.
It’s a shame they are closing and I feel for the employees, but nobody local really believes they are a respectable place, touristy really.
While UK nightlife/drinking/pubs like every other city in the world is slower since COVID, I still have many friends from around the world who come visit and can’t believe how busy our cities and nightlife are compared to their city back home (NYC, SF, LA, Berlin, Sydney to name a few).
Re: Bars close and hundreds lose jobs as US firm buys Brewdog in £33M deal
#10I've been hearing buzz that the whole alcohol industry is in trouble, from a perfect storm of cultural changes that culminate in young people drinking less, and particularly drinking less in bars. With that context, it seems notable that the booze company in question here was purchased by a "beverage and medical cannabis " corp.
They just stated slowly appparently: https://www.ft.com/content/1ae55e45-64a6-463a-b04b-198ee3241...
Maybe so. But it's not just the price of booze which is the problem; other problems include online dating (meeting people is now less of a reason to go to bars), cultural apprehensions about hooking up while drunk, and cannabis providing a superior experience (at least in the US, maybe less of a factor in the UK?)