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Wild Card Brewery ceases trading
Wild Card Brewery has ceased trading, with accounts for the last filing period showing the company over half a million pounds in debt.
The first communication from the company, since the drinks business exclusively broke the news that the brewery had been repossessed by the council, came via an investors email saying briefly that it had ceased trading and thanking them for their support, this was quickly followed by a customer mail out saying the company had gone into a Creditors Voluntary Liquidation process.
Signed off from the Wild Card Team, the message said: “This is not the outcome we have been
working hard to achieve over the last 12 years. However, the pandemic and extended cost of living crisis have created an extremely challenging trading environment and we are unable to find a way forward.“
One investor, who didn’t wish to be named, expressed surprise and frustration that the company hadn’t approached them to help save the business. However, accounts filed with Companies House for 2023, showed how much trouble the business was in. According to the filings, Wild Card Brewery had lost £150,000 worth of business in the last financial year as well as having loans and overdrafts with the bank totalling £228,000, along with outstanding VAT of £63,000 (which had increased from £26,000 the previous year) as well as tax and social security debts that totalled £88,000 (which increased from £38,000 the previous year).
Other creditors went up from £3,000 to £42,000 but trade creditors went down from £120,000 to £110,000, with debtors dropping from £3350k to £262k. The filing also cited 21 employees but it is not known at this time if they were given any warning about the situation.
According to sources, the venues owned by Wild Card such as Ravenswood Barrel Store has also been closed, but locals can at least console themselves that the Tavern on the Hill is continuing to operate as a separate business.
Wild Card brewery director William Harris was approached for comment, but again declined to comment on the closure of this much-loved fixture of the London beer scene.
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