Bad Shepherd emerges from VA
Bad Shepherd Brewing Co., Cheltenham based craft brewery and brewpub operator, has successfully emerged from voluntary administration after creditors today approved a financial restructuring of the business.
Business owners Dereck and Diti Hales appointed DBA Advisory as Administrator on 10 October 2023. This was a necessary step to deal with financial losses from a difficult few years.
Dereck and Diti worked with the Administrator to develop a compelling Deed of Company Arrangement (DOCA) proposal to financially restructure the business, to ensure a stronger and more resilient operation moving forward. The Administrator recommended that creditors accept the DOCA proposal to provide the best outcome to creditors.
The DOCA was signed after the meeting of creditors today, so control of the business has reverted to Bad Shepherd’s management, headed by Dereck and Diti.
Dereck noted that under administration it’s been business as usual: “Beer production, sales and distribution and brewpub operations have not missed a beat since we entered administration.”
Looking forward, Dereck added: “After a difficult period for the business, we are grateful that creditors have supported our restructuring proposal and have backed us to return Bad Shepherd to a position of strength. We are excited at the opportunities ahead.”
Bad Shepherd Brewing Co. remains committed to producing quality beer and providing memorable experiences for their customers and community.