Daily Newsletter

28 March 2024

Daily Newsletter

28 March 2024

UK brewery Fourpure seeks debt relief

Owner In Good Company said the move does not have an impact on the other assets in its portfolio.

Conor Reynolds March 28 2024

UK brewer Fourpure is looking to manage its debts with creditors as owner In Good Company looks to “future proof” the business.

In Good Company has applied for a company voluntary arrangement (CVA) for the registered entity Fourpure Limited.

Under a CVA, a majority of 75% (by value) of a company's creditors need to agree to any debt restructuring.

“This move is about taking decisive action sooner rather than later and facing issues head-on to protect the business for the future,” In Good Company CEO Stephen Cox said.

“We are working hard to ensure continuity of supply during this time and that this does not impact customer agreements. We want to ensure that Fourpure continues forward with as little disruption as possible.”

Cox added: "It is also important to say that this decision doesn't impact the other entities in the In Good Company group."

Just Drinks has asked the business for further comment on the size of the debts linked to Fourpure and on the financial health of the wider In Good Company.

The last accounts filed by Fourpure show a £3m ($3.1m) loss for the year ended 31 December 2021. It reported net current liabilities of £18m for that period.

Fourpure was owned by Japanese giant Kirin Holdings from 2018 to 2022. In January 2022, it launched a review of its UK operations, with its Lion subsidiary selling the assets under the In Good Company umbrella seven months later to Odyssey Inns, a vehicle set up to conduct the acquisition.

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