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James Watt offers to buy back Brewdog
Watt says 43,000 Equity Punks have joined his formal offer, which would restore free BrewDog equity to small investors if successful.
- James Watt submitted a formal offer to New York-based Tilray to buy back BrewDog through his new company, Second Best, claiming that "43,000 Equity Punks have already joined the bid."
- Tilray Brands acquired BrewDog after the company collapsed into administration, resulting in the closure of 36 bars and causing nearly 500 workers to lose their jobs.
- Around 20,000 Investors spent about £500 each in the "Equity For Punks" scheme, receiving no return when the firm collapsed; Watt pledged to give free shares to those who lost money.
- Watt apologized to staff and Investors for what he called "mistakes" made as CEO and promised to restore the Real Living Wage and put community back at the heart of the business.
- The Aberdeenshire-founded company was once valued at over $1 billion, though founders previously cashed out shares when private equity group TSG bought 22 per cent of the company in 2017.
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18 Articles
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BrewDog co-founder James Watt tables bid to buy back beer firm
Mr Watt said 43,000 so-called equity punk investors had joined forces for the bid.
·London, United Kingdom
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Brewdog co-founder James Watt launches bid to buy back pub chain after £500m debt collapse
Brewdog co-founder James Watt launches bid to buy back pub chain after £500m debt collapse . James Watt, who co-founded Brewdog before stepping away from the company, has put forward a bid through his newly established venture Second Best Beer to repurchase the collapsed brewery from American cannabis firm Tilray
·London, United Kingdom
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Coverage Details
Total News Sources18
Leaning Left5Leaning Right3Center4Last UpdatedBias Distribution42% Left
Bias Distribution
- 42% of the sources lean Left
42% Left
L 42%
C 33%
R 25%
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