North Brewing, the Leeds-based brewery and bar group, has been rescued from Administration by Steve Holt of Kirkstall Brewery.
Steve Holt and the founders of North Brewing (John Gyngell & Christian Townsley) were early pioneers in developing the craft beer market in the UK.
As the market developed, both Kirkstall and North expanded their businesses as brewers and retailers, both sharing a passion for the beer and the hospitality market and committed to producing high quality products and services.
North will continue to be an independent brewery operating from its Springwell site and will be run by the existing management team. John Gyngell of North said: “We are pleased to have found a solution for our team and the legacy of the North brand.”
Steve Holt of Kirkstall Brewery added: “We’ve been friends and industry colleagues for almost 30 years, North is an iconic beer brand that had to continue. Together we’ll make sure that North will continue to make some of the best beer in the country.”
Christian Townsley of North said: “This has been an absolutely torrid time for the brewing industry which has faced the fallout from Covid, Cost of living crisis, Inflation, Brexit and Utility price increases.
“We recognise that this has been a really difficult time for the stakeholders and creditors. The new company will be known as Vertical Drinks Ltd T/A North.”
Howard Smith and Rick Harrison of Interpath Advisory were appointed advisors of North Brewing Company Limited, North Brewing Leisure and North Brewing Management Limited on 25th January 2024.
Charles Boyne of Weightmans Solicitors represented North. A team from Lupton Fawcett Solicitors lead by corporate partner Dan McCormack acted for Kirkstall Brewery.