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AILING BREWER BLACK SHEEP SETS DEADLINE FOR RESCUE BIDS

The Yorkshire-based brewer of Golden Sheep ale and Milk Stout has given
prospective buyers until Friday to table offers for its assets, Sky News
understands.

Mark Kleinman

City editor @MarkKleinmanSky

Wednesday 3 May 2023 13:11, UK


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Image: Pic: Black Sheep Brewery
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Why you can trust Sky News

Bidders for one of Yorkshire’s most famous breweries have been given until the
end of this week to save it from collapse.

Sky News has learnt that advisers to The Black Sheep Brewery have asked a number
of interested parties to table offers on Friday, days after it filed a notice of
intention to appoint administrators.

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The company, which was founded by Paul Theakston in 1992, produces its eponymous
and Golden Sheep ales, Milk Stout and a beer called Riggwelter.

It has lined up Teneo Financial Advisory as administrator, although it could
seek to delay its formal appointment if a rescue deal becomes viable.

Brewing industry sources said a range of financial and strategic investors were
expected to show an interest in acquiring Black Sheep's assets.



Until last month, it had been running a sale process to find a buyer for the
company itself.

Charlene Lyons, Black Sheep Brewery's chief executive, said this week that the
company remained hopeful of finding a saviour.


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"The business has been hit very hard by the pandemic and the sudden rise in all
costs.

"It has been the perfect storm, but the team are confident that with a new
structure Black Sheep will thrive and grow as the team set course in a new
direction."

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The founder's son, Rob, is the brewer's managing director.



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