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Wed, 04 Mar 2026

Wed, 04 Mar 2026 Brewdog founder admits 'many mistakes' as hundreds lose jobs in sale

James Watt apologises to staff and investors after hundreds of jobs were lost with the sale of the brewer and pub chain.
Brewdog co-founder James Watt has apologized to staff and investors after hundreds of jobs were lost following the sale of the brewery and pub chain this week. The company's assets were sold to US firm Tilray for £33m, resulting in 38 pub closures and 484 redundancies. Unions, staff, and investors have expressed anger at how the sale was handled. In a statement on LinkedIn, Watt admitted he made "many mistakes" during his time as CEO, including expanding too quickly and diversifying too broadly. He acknowledged that he didn't control spending well enough and didn't respond to crises authentically. Watt said he would have loved to save every job and investment, but ultimately couldn't. The sale has left many investors, including those who participated in the Equity for Punks scheme, with significant losses. One investor estimated his £12,000 stake was worthless after the sale. Unions have criticized the way staff were informed of their redundancies during a 15-minute conference call, which provided only 25 minutes' notice and didn't allow time for questions. AlixPartners, the administrators appointed by Brewdog, has acknowledged the challenging situation faced by staff and is working to provide support, including job placements in other hospitality companies.