More than two-thirds of the loss was the result of a one-off restructuring charge following the transfer of its vatting, blending and bottling operations to Glenmorangie’s facility at Broxburn, West Lothian. The costs included £1.1m in redundancy payments. Two of the company’s directors resigned during the year. Drambuie said last year that its joint venture with Glenmorangie would save it £1m by the end of the third year in operation and a company spokesman confirmed to Just-drinks that it remained on track to achieve that objective. In 2001, Drambuie’s group borrowings totalled £26m.
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