A MAJOR beer brand has been placed in to administration after the company applied for a company voluntary arrangement in March.
It comes after the Fourpure brewing company closed its production site and taproom in Bermondsey.
In Good Company, the business that owns Fourpure and Magic Rock, said the move would “protect the brand from future liability, and tough commercial realities in the drinks and hospitality industries.”
Fourpure had previously applied for a CVA in March to secure more time to pay its creditors.
The company said: “Fourpure would continue to exist in the same way it does currently with its beers brewed, canned and produced at Magic Rock Brewing.”
In Good Company claimed that the administration would not “impact staff” or any of the In Good Company’s Beverage Limited’s wider portfolio.
However, a number of Fourpour staff have allegedly been made redundant following the closure of the Bermondsey site, according to The Grocer.
In Good Company CEO Steve Cox said: “We’ve had to make a number of tough decisions to protect the overall business, which includes moving Fourpure’s London brewing operations to its sister brewer Magic Rock in Huddersfield, and this month voluntarily filing for administration for Fourpure Limited.
“Both decisions have been made to futureproof the brands and the wider business, as we look to maintain stability but also strive for ambitious growth targets.
“Anyone in the craft beer, drinks and hospitality sectors will be familiar with the current challenges of operating in this space.
“We are determined to keep taking positive strides to safeguard In Good Company and its portfolio to allow for growth and innovation.”
The company has not filed a full-year set of accounts since it was acquired by In Good Company from Lion in August 2022.
The Sun has contacted Fourpure for comment.
The news comes after more than 2,000 Costa Coffee branches have abruptly shut, leaving customers “absolutely gutted”.
The Costa Coffee branch in Fleet Walk, Burnley, has pulled down the shutters for the final time.
The branch has actually been closed since the start of the month with customers left confused as to why it was empty.
But the company has now confirmed the closure is permanent, and it is set to be replaced by another shop.
A Costa Coffee spokesperson said: “We can confirm that our Costa Coffee store on Fleet Walk, Burnley, which is owned and operated by one of our corporate partners, closed for trade at the beginning of September 2024.”
Many shoppers were left disappointed after the branch shut down.
Commenting on news of the closure one said: “Absolutely gutted on Saturday when I couldn’t get my Costa!”
Another wrote: “Town centre is dying of a slow death.”
A third quipped that the situation was a “Costa living crisis”.
Costa closed its branch in Alexandra retail park, Tunstall, Stoke-on-Trent, on Sunday 1 September.
The franchised site had been open for nine years, and customers have said it was a “great place”.
Coffee giant Costa regularly reviews its store estate across the UK.
This can include the closing or renovation of existing stores, or the opening of new stores.
Below we reveal the full list of Costa Coffee sites which have already shut and those which are due to close this year.
To find your nearest store or Costa Express machine, you can visit the chain’s website.
John Amos’ daughter is speaking out about his death.
After the news broke that the Good Times actor had died at the age of 84, his daughter Shannon Amos paid tribute while sharing insight into how...
