BrewDog reports £13m pre-tax loss for 2020

pub & bar

By BigHospitality

- Last updated on GMT

BrewDog reports £13m pre-tax loss for 2020

Related tags: Brewdog, Pub & bar

BrewDog has reported a pre-tax loss of £13.1m for 2020 as a result of the impact of the Coronavirus pandemic.

Company accounts show that the brewer and bar and pub operator saw revenue grow by 10% to £238m driven by a rise in online beer sales of 900%, but that this was not sufficient to offset the impact of its bar closures.

The growth in revenue was described by BrewDog co-founder James Watt as being “the most significant achievement in our history”.

BrewDog says it intends to open around 30 new retail locations in the UK and overseas including a hotel in Manchester and in Edinburgh.

The annual report comes after BrewDog apologised to former employees who accused Watt and the company in an open letter of fostering a “culture of fear”.

The company, which operates around 100 bars across the world, has since launched an independent review​ of its culture and has committed to creating an employee representative group. BrewDog says it hopes to share the findings of its review before the end of the year.

       

 

Related topics: Pub & Bar

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