HSBC Secures Assets as BrewDog Faces Break-Up and Founder Bid

HSBC has secured debts against BrewDog’s flagship Scottish brewery to mitigate potential losses as the craft beer company undergoes a sale process that may lead to a break-up. The move protects the bank's exposure to tens of millions of pounds in loans while co-founder James Watt prepares a £10 million personal investment to lead a rescue consortium. BrewDog, advised by AlixPartners, reported a £37 million loss in 2024-25 on £357 million revenue. The company carries over £800 million in debt to TSG Consumer Partners and £92 million in outstanding bank loans. With a second round of bidding expected in late February 2026, industry giants like Carlsberg and Heineken are evaluating assets, though equity investors face likely wipeout due to the heavy debt load.