Sammie Ellard-King
I’m Sammie, a money expert and business owner passionate about helping you take control of your wallet. My mission with Up the Gains is to create a safe space to help improve your finances, cut your costs and make you feel good while doing it.
Scottish craft beer giant BrewDog has been put up for sale after racking up £37m losses last year.
The company behind Punk IPA and Elvis Juice has appointed restructuring experts AlixPartners to oversee a sales process that could see the business broken up.
Over 220,000 individual shareholders who invested through BrewDog’s ‘Equity for Punks’ scheme could be left with little return on their average investment of £400.
Why Is BrewDog Being Sold?
BrewDog reported a £37 million loss last year on turnover of £357 million. The company has been struggling with mounting losses, closing bars and cutting jobs.
In October 2025, BrewDog announced job cuts across the business.
Earlier in the year, it closed 10 bars across the UK, including its flagship pub in Aberdeen.
Last month, the company stopped production of gin and vodka brands at its distillery in Ellon, Aberdeenshire, to “sharpen” its business focus.
A BrewDog spokesperson said: “As with many businesses operating in a challenging economic climate and facing sustained macro headwinds, we regularly review our options with a focus on the long-term strength and sustainability of the company.”
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What About the 220,000 Investors?
BrewDog raised about £75 million from selling shares to customers through its ‘Equity for Punks’ crowdfunding scheme. The first crowdfunding took place in 2009, with the most recent in 2021.
Investors were offered perks such as discounts and early access to new craft beers. The average investor put in about £400.
Sources say many of these 220,000 shareholders could be left with little return on their investment. Some investors who sold their stock in previous funding rounds did make significant returns.
At one point, BrewDog was valued at £2 billion, stoking hopes of an eventual stock market listing. Now, insiders say the company would command a price tag far less than that.
Could James Watt Buy It Back?
BrewDog co-founder James Watt, who remains one of the company’s biggest shareholders, is reportedly considering a bid to buy the company back.
Sources indicate he’s canvassing support from financial backers. Watt stepped down as chief executive in May 2024 after leading the company for 17 years, taking up a newly-created position of “captain and co-founder.”
His co-founder Martin Dickie left the company last year, saying he took the decision for personal reasons.
BrewDog's Controversial History
Founded in 2007, BrewDog earned a reputation for innovation and controversy. The founders frequently courted attention with marketing stunts including riding a tank through the City of London and projecting Watt’s naked image onto the Houses of Parliament.
But the company also faced serious allegations. In 2021, former workers accused BrewDog of operating a “culture of fear” with “toxic attitudes” towards junior employees.
In 2022, Watt was accused of inappropriate behaviour and abuse of power by former BrewDog USA workers who told the BBC his behaviour made them feel “uncomfortable” and “powerless.” Watt’s lawyers denied these claims.
In 2024, BrewDog sparked fury after announcing it would no longer hire new workers on the real living wage, instead paying below the legal minimum wage.
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