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BrewDog Administrators Hit Creditors With Squatter Eviction Costs

By Drooid · Sep 18, 2026, 2:41 PM UTC · How we work

Summary

Tilray Buys BrewDog

Tilray bought BrewDog for £33 million, causing the brewer’s collapse.
The sale left BrewDog with an estimated £16.8 million cash shortfall after asset sales.
Private-equity backer TSG Consumer Partners faces a £27.6 million loss on its 22% stake.
BrewDog owes about £190 million to unsecured creditors, who will receive less than a penny per pound.
Around 200,000 crowdfunding investors saw their Equity for Punks shares become worthless.

Summary

AlixPartners Evicts Squatters

AlixPartners were appointed administrators of BrewDog in February 2026 after the company failed to turn a profit.
The administrators reported unauthorized occupiers had squatted in several closed pubs during liquidation.
Security firms and legal teams were hired to evict squatters, incurring unexpected court and security costs.
The added expenses further reduced net proceeds available for creditor distributions.
Redundant staff received guidance on accessing government unemployment support schemes.

History

Historical Context

Punch Taverns, founded in 1997 by Hugh Osmond and Roger Myers, grew through the £3 billion Allied Domecq purchase (1999) and the £168 million Pubmaster deal (2003), swelling to over 7,000 pubs and heavy debt. After a 2009 parliamentary inquiry into pub-company practices, the debt surge reached £200 million, and in 2014 the chain entered administration, repaying creditors at an average of 2 pence per pound.

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Tilray Buys BrewDog

Tilray bought BrewDog for £33 million, causing the brewer’s collapse.
The sale left BrewDog with an estimated £16.8 million cash shortfall after asset sales.
Private-equity backer TSG Consumer Partners faces a £27.6 million loss on its 22% stake.
BrewDog owes about £190 million to unsecured creditors, who will receive less than a penny per pound.
Around 200,000 crowdfunding investors saw their Equity for Punks shares become worthless.

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