One of Leeds’ most beloved breweries has appointed administrators due to ‘cost of living crisis’.
The award-winning North, formerly known as North Brewing Co, is a firm favourite amongst Leeds locals and craft beer enthusiasts across the country.
With an impressive brewery in Meanwood, multiple city centre bars and its multi-million pound Springwell site that opened in 2020, any North venue was a popular place to enjoy a beer or two.
But now, the owners have confirmed that they have officially filed for administration, and North may undergo some changes… although we really hope it doesn’t.
All North venues will remain trading, but investment is being sought for the business.
On Monday 15 January, a London law firm filed a Notice of Intent in relation to North Brewing Ltd, North Brewing Management and the North Brewing Leisure Ltd taprooms.
North Brewing’s founder Christian Townsley confirmed that the filings had been made.
He told The Grocer magazine that the team were working with ‘advisors’ to secure additional investment to bring security for the company. A further update will be issued later this week.
Townsley said that factors for needing more funding include the cost of living crisis, interest rate rises, material cost increases, Brexit and Covid.
North told the Yorkshire Evening Post: “We’re currently working with advisors and have recently commenced a process to seek additional investment into our business, which will enable us to push forward with our plans for 2024 and beyond.
“Like the rest of the hospitality and brewing world, over the last four years we’ve endured the turbulence of Covid, Brexit, material cost increases, cost of living crisis and interest rate rises.
“As a result, we’ve been looking for investment and will have news to share in the coming days.
“Due to the commercial nature of the discussions, we can’t say more but will keep you updated as soon as we can share further details. All ‘North Bar’ venues are unaffected by the above”.
Featured image – The Hoot Leeds