A MAJOR beer brand has been placed into voluntary administration to “protect it from market pressures”.
Brewing company Fourpure made the move months after the alleged closure of its production facility and taproom in London.
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FourPure has entered administrationCredit: FourPure
The Good Company, which owns Fourpure and Magic Rock, said the move would “protect the brand from future liability and the harsh commercial realities of the drinks and hospitality industry”.
Fourpure previously filed for a CVA in March to provide more time to pay creditors.
The company said: “Fourpure will continue to exist in the same way it currently exists with its beer brewed, canned and produced at Magic Rock Brewing.”
In Good Company claimed the administration would not “impact staff” or any part of In Good Company’s wider Beverage Limited portfolio.
However, a number of Fourpour staff have reportedly been made redundant following the closure of the Bermondsey location, according to The Grocer.
In Good Company chief executive Steve Cox said: “We’ve had to make a number of difficult decisions to protect the overall business, including the relocation of Fourpure’s London brewing operations to its sister brewery Magic Rock in Huddersfield, and the voluntary application for administration for Fourpure Limited this month .
“Both decisions were made to protect the brands and the wider business going forward, as we want to maintain stability but also pursue ambitious growth targets.
“Everyone in the craft beer, beverage and hospitality sector will be familiar with the current challenges of doing business in this space.
“We are determined to continue to take positive steps to protect In Good Company and its portfolio to enable growth and innovation.”
The company has not filed full-year returns since being acquired by In Good Company from Lion in August 2022.
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The Sun has contacted Fourpure for comment.
The news comes after more than 2,000 Costa Coffee outlets were abruptly closed, leaving customers “completely bereft”.
The Costa Coffee branch in Fleet Walk, Burnley, has closed its doors for the final time.
The branch has actually been closed since the beginning of the month, and customers were left confused as to why it was empty.
But the company has now confirmed that the closure is permanent and will be replaced by another store.
A Costa Coffee spokesperson said: “We can confirm that our Costa Coffee store in Fleet Walk, Burnley, which is owned and operated by one of our corporate partners, is closing for trade from the start of September 2024.”
Many customers were disappointed after the branch closed.
Commenting on news of the closure, one said: “Absolutely gutted on Saturday when I couldn’t get my Costa!”
Another wrote: “Downtown is slowly dying.”
A third joked that the situation was a “Costa life crisis”.
Costa closed its branch in Alexandra retail park, Tunstall, Stoke-on-Trent, on Sunday 1 September.
The franchise location had been open for nine years, and customers said it was a “great place.”
Coffee giant Costa regularly reviews its retail properties across the UK.
This may include closing or renovating existing stores or opening new stores.
Below we reveal the full list of Costa Coffee sites that have already closed and those that are due to close this year.
To find the nearest store or Costa Express machine, visit the chain’s website.
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