Edinburgh BrewDog pub to shut with immediate effect amid £33m rescue deal for Scottish craft brewing company

BrewDog in Cowgate is set to close its doors for good following the confirmation of the buyout by US craft beer and cannabis company Tilray Brands.

The Cowgate location is one of 38 UK bars that are set to be closed as part of the deal, with 484 jobs set to be lost across the country as a result of the deal.

There are eight other Scottish pub locations that will be closing as part of the new deal, including pubs in Stirling, Glasgow, Aberdeen, Inverurie, Perth and St Andrews.

The BrewDog location on Edinburgh's busy Cowgate is set to close its doors for good after the Scottish craft brewery company confirmed that it had been bought in a £33m rescue deal. | Google Maps

Around 18 franchise bars in the UK and internationally will continue to operate as part of the takeover by Tilray.

It comes after BrewDog collapsed into administration on Monday, March 2, with consultants AlixPartners called in to oversee the sale process for the business.

All BrewDog locations were closed across the country on Monday while a rescue deal was reached with Tilray.

Clare Kennedy, a partner and managing director at AlixPartners, said: “As one would expect over the past two weeks, we have received significant interest in the BrewDog business from prospective buyers across both the trade and investment communities.

“In Tilray, we have secured a purchaser with a passion for craft brewing who will be an excellent custodian and sponsor of the business in the months and years ahead.”

Tilray said that it was negotiating deals to buy certain BrewDog assets in the US and Australia.

Irwin D Simon, chairman and chief executive of Tilray Brands, said: “BrewDog is one of the most iconic, mission-driven craft beer brands in the UK.

“It helped redefine modern craft beer through bold innovation, fearless creativity and an unwavering commitment to great beer.

“As we begin a new chapter for this great brand, our priority is to refocus BrewDog on the craft beer excellence that made it beloved in the first place and strategically invest to return the operations to profitable growth.

“BrewDog’s future is bright, and we are committed to ensuring the brand continues to lead and inspire the global craft beer movement.”

Brewdog operates three other pubs located on Lothian Road, at Edinburgh Waverley station, and inside the terminal at Edinburgh Airport, all of which are unaffected by the closure announcement.

Doghouse Edinburgh Hotel and Bar & Terrace, which is located on New Street, is also operated by BrewDog and is unaffected by the closures.