THE CEO of a brewery has said rising costs are forcing the firm to close branches, although the Reading venue will remain open.
The bars calling time, including three in London, are closing due to sharp rises in costs including energy bills.
James Watt, who helped co-found Brewdog, announced the decision on Wednesday, August 31, saying: “It was going to be simply impossible to get these bars even close to financial viability in the foreseeable future. We had no choice but to close them.”
Despite this, there have been no job losses with staff finding jobs elsewhere in the company.
The news came just a fortnight after the company opened its biggest ever bar in London’s Waterloo, attracting 20,000 visitors since serving its first pint.
In a post on Linkdin, Mr Watt said industry experts estimate that 70% of the country’s bars, pubs and restaurants could close as a result of the soaring prices.
He also warned: “Reality in the hospitality space is starting to bite and bite hard. And the government needs to get a grip, now.
“If nothing happens the UK looks set to lose half of its pubs and bars and all the millions of jobs these locations provide, as well as the vital role they play in local communities.”
A BrewDog spokesman confirmed the Reading branch is not affected by the company’s shake-up.
“All staff have accepted roles in other Brewdog locations. There will be no job losses,” they confirmed.
“This is part of the regular review of our portfolio. With rapidly increasing costs including spiralling energy bills, the bars were a substantial distance from being viable to operate.”
The six bars closing are: Peterhead, Hop and Anchor in Aberdeen, Smithfield Market Arms in London, Dalston in London, Old Street in London, and Hop Hub in Motherwell.
