(BCN) — A landmark firm in San Francisco has turned off its faucets.
Anchor Brewing Firm officers introduced early Wednesday that it’s going to stop operations and liquidate the enterprise — established in 1896 — citing financial elements together with declining gross sales since 2016.
The corporate gave workers 60-day notices “with the intent to supply transition assist and separation packages in keeping with firm practices and insurance policies,” in response to the announcement from firm spokesperson San Singer.
“This was an especially troublesome resolution that Anchor reached solely after many months of cautious analysis,” Singer stated within the announcement. “We acknowledge the significance and historic significance of Anchor to San Francisco and to the craft brewing trade, however the impacts of the pandemic, inflation, particularly in San Francisco, and a extremely aggressive market left the corporate with no choice however to make this unhappy resolution to stop operations.”
Anchor lately introduced it might restrict gross sales of Anchor beers to California and that it might reduce manufacturing of its Anchor Christmas Ale. The announcement studies that Anchor has stopped brewing and can proceed packaging and distributing the beer readily available whereas obtainable or via across the finish of July.
Anchor Public Faucets will stay open briefly, promoting remaining stock, together with a small quantity of 2023 Anchor Christmas Ale, which was brewed previous to the corporate’s latest resolution to cancel the nationwide launch.
“Anchor has invested nice ardour and vital sources into the corporate,” Singer stated. “Sadly, immediately’s financial pressures have made the enterprise now not sustainable, and we needed to make the heartbreaking resolution to stop operations.”
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Singer stated the corporate is negotiating submitting for chapter beneath federal Chapter 7 or 11. Primarily based within the Potrero Hill neighborhood, the corporate describes itself because the nation’s first craft brewery.
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