![\"BrewDog](\"https:\/\/dailybusinessgroup.co.uk\/wp-content\/uploads\/2023\/11\/BrewDog-Lothian-Road.png\")
Almost all creditors owed more than \u00a3190 million from the failed BrewDog brewing and pubs chain will not expect their bills to be paid, according to accountants handling the Aberdeenshire firm\u2019s collapse.<\/p>\n
AlixPartners warned there were \u201cinsufficient funds\u201d to pay debts in full, including taxes and a string of bills from other businesses.<\/p>\n
Most of the assets of BrewDog, once valued at over \u00a31 billion, were acquired earlier this year by the US cannabis and drinks company Tilray. <\/p>\n
Six indicative offers were received by administrators during the sales process. Tilray Brands had been chosen as it \u201cwould offer the best return to the creditors of the companies as a whole\u201d<\/p>\n
It took on the intellectual property, breweries and 11 bars from the administrators but closed 38 bars and left 440 staff out of work. The deal wiped out the investments of 200,000 \u201cequity punks\u201d who crowdfunded the business in several fund-raising rounds.<\/p>\n
Staff who were owed \u00a3489,000 in wages and holiday pay have already been compensated under the government\u2019s redundancy payment scheme.<\/p>\n
However, \u00a32.4m in taxes will not be repaid to HM Revenue and Customs, although a separate \u00a33.6m debt will be paid back.<\/p>\n
A total of 59 Aberdeen and northeast companies owed about \u00a32.4m are among the unsecured creditors not expected to receive a dividend. Others include Lord\u2019s Cricket Ground, West Ham United FC and Manchester University, will receive less than a penny in the pound. <\/p>\n
Private equity investor TSG, which bought a 22% stake for \u00a3213m in 2017, had its investment wiped out. HSBC is expected to recover about \u00a342m of about \u00a361m it is owed.<\/p>\n
The administration process ends of 2 March.<\/p>\n
James Watt, who co-founded BrewDog with friend Martin Dickie in 2007, has since set up several ventures, including Social Tip, which pays people to make social media posts about brands. He also launched a new beer business, Second Best, and has offered former BrewDog investors free shares in the business.<\/p>\n
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