A POPULAR drinks brand that was once stocked in Sainsbury’s and Amazon has gone into administration.
Natural soft drinks company Square Root Drinks was appointed and administrator on 3 October.
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Square Root was once stocked by Sainsbury’s and AmazonCredit: Square Root
It comes because the website link has been removed and the stock is not available on Amazon.
The announcement was made on X (official Twitter) by James Beeson, drinks editor at The Grocer.
He said: “I am deeply saddened to hear that Square Root London has gone into administration.
“I enjoyed working for Ed and Robyn – two people who put everything into the brand – incredibly, and owe them a lot professionally and personally.
– My heart goes out to both of them today.
Square Root made its retail debut in February 2021 with a launch at Sainsbury’s through the retailer’s Future Brands initiative.
At the time, the company said it was “exciting to be recognised” by the supermarket as a “bold and authentic brand”.
The brand has broken through a £250k crowdfunding campaign, overfunding by 230 per cent to reach £577,444 from 570 investors in 2021.
Square Root offered a selection of non-alcoholic mocktails and natural soft drinks, including ginger beer, Coke, non-alcoholic gin and tonic, lemonade and more.
The company was founded in 2012 by Ed Taylor and Robyn Simms in East London.
Administration is when all control over the company is transferred to an appointed authorized receiver.
This does not necessarily mean the end of the job.
Administration is when all control over the company is transferred to an appointed authorized receiver.
This does not necessarily mean the end of the job.
But if the administrative process cannot save the company or find a new owner, it can lead to liquidation.
Liquidation is the process of selling all assets and then completely dissolving the company.
COST OF LIVING PRESSURES
The number of craft breweries in Great Britain fell from 1,828 at the beginning of 2023 to 1,815 at the beginning of the year.
That now stands at 1,748 according to the latest figures to June from the Society of Independent Brewers and Associates (SIBA).
The SIBA UK Brewery Tracker takes into account all brewery openings and closures to give an accurate picture of the number of active brewing businesses.
Craft breweries have been hit hard by the cost of living crisis and the pandemic.
While many manufacturers turned to home delivery during the covid pandemic, they were then hit by rising costs combined with people taking control of their spending.
The prices of energy, rents and raw materials soared. They also faced higher interest rates when borrowing money for business development.
SIBA chief executive Andy Slee said when the latest closure figures were released in July: “Independent breweries are reporting good sales growth and strong consumer demand, but breweries are still closing.
“For most brewers, the challenge is financial pressures from rising costs and market access, as well as lingering Covid debt – something SIBA has been lobbying the government hard for help with.”
UK BREWERS FIGURES
The SIBA UK Brewery Tracker shows that there are 1,748 breweries across the country
It covers the period from April 1 to June 30 of this year and the net change compared to March 31, 2023.
- Scotland 133 (-3)
- Northern Ireland 29 (-)
- East 187 (-4)
- Northeast 248 (-3)
- North West 189 (-1)
- Wales 96 (-)
- Southwest 203 (-4)
- Southeast 331 (-3)
- Midlands 334 (-11)
- UK: 1748 (-29)
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Source: HIS Education