Nearly as many craft breweries have gone out of business in the UK during the first half of this year as during the entire year of 2022.
According to data from Price Bailey via the Insolvency Service under the Freedom of Information Act, a record 35 breweries have closed in the first six months of 2023, compared to 38 closures for all of 2022.
The reasons are many and varied – and mirror the environment in the US where higher interest rates, inflation, supply chain issues, higher wages, changing consumer trends – to name a few, have all conspired within a short period of time to impact the craft breweries. The large global breweries are better able to maintain margins while working through, or around, the many challenges.
More on the story from The Drinks Business here.