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Love Lane Brewery saved from closure
Liverpool’s Love Lane Brewery has been bought out of administration by White Real Estate in a deal that has saved the business from folding.
The acquisition, which follows the craft brewery going into administration in October 2023, just 18 months after it was last rescued, means the troubled business will resume brewing for its taproom, as well as pubs, bars and bottle shops.
White Real Estate, a company associated with TJ Morris, the owners of the discount retailer Home Bargains known for over 500 stores across Merseyside, will take on the business from hereon in and soon set about reopening, according to local reports.
Speaking about the acquisition, A TJ Morris spokesperson said: “We can confirm, that White Real Estate Limited have acquired the assets and intellectual property of Love Lane Brewery, in Liverpool’s Baltic area, from administrators.”
Love Lane reportedly owed more than £1.5m to its creditors before it was saved back in June 2022 when former Iceland boss Nick Canning invested a further £300,000 in the company. However, despite his efforts, last October the business faced administration for the second time. Love Lane appointed Paul Stanley and Jason Greenhalgh from Begbies Traynor, a group that has carved a niche in the craft ale sector and has previously overseen the administrations of Liverpool Organic Brewery, Alphabet Brewing Company and Beatnikz Republic Brewing in a bid to save the business.
According to a statement given at the time, the brewery had “struggled to return to the heights of pre-Covid sales” during a difficult trading time for the hospitality industry.
Describing the challenges the industry is facing, Begbies Traynor regional managing partner Paul Stanley explained: “This is a difficult time for the leisure and hospitality sector in general. Many small breweries have launched during the past decade and the craft beer industry was going strong until economic conditions dramatically changed. More recently, as the majors have introduced their own corporate versions of craft beer onto the pumps, the smaller brewers are finding it even tougher to compete and we have seen a huge rise in the number of microbrewery businesses seeking financial help.”
Outlining the details of the brewery and brand acquisition while the taproom bar at 62-64 Bridgewater Street in the Baltic Triangle remains separate, the TJ Morris spokesperson added that “the intention is, that the venue will continue to trade independently and the brewery will re-commence operations, supplying product to both the venue itself, as well as third party operators and retailers”.
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