BrewDog retail arm administrators say no funds to pay staff and tax debts

Former employees and certain creditors of BrewDog's collapsed retail arm in the UK will receive no money from its administration, according to a report by administrators AlixPartners. The report cited insufficient funds due to lower asset realisations and higher costs. Around £489,000 was owed in staff wages and holiday pay, and £2.4 million to HMRC for VAT. The retail arm closed 36 bars, affecting nearly 500 workers, before US firm Tilray bought the brand and some assets for £33 million. Unsecured creditors, owed about £190 million, are expected to get less than a penny per pound.