The founders of North Brewing, established in Leeds in 2015, have confirmed they are looking for new investment.
The brewery was born from the successful North Bars, the first of which opened in 1997. In its last set of accounts, up to the end of March 2022, the company owed creditors more than £2.7m.
Now, founders John Gyngell and Christian Townsley have issued a statement confirming that they’ve submitted a notice of intent which could lead to administration.
However, they add: “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, thecost-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.”
