Bad news for fans of Speakeasy Ales & Lagers, as the company today announced that it is shutting down all brewing and taproom operations indefinitely. According to a statement on the brewery’s website, the reason for the shutdown is “difficulty securing capital investment and outstanding debt obligations.”
The brewery began in San Francisco in 1997, opened a taproom in 2011, and underwent a major upgrade in 2015 with the addition of a new 60 barrel brewhouse, malt handling system, fermentors, canning line, and more. And while it increased the amount of beer produced to 90,000 barrels per year, it seemingly was not enough to recoup costs.
The company’s unnamed primary creditor is in charge of the brewery and brand’s future, with no additional information available at press time. In a statement, CEO and founder Forest Gray emphasized that the company requires new capital to move forward (in other words: more money, and quick).
Those wishing to drink a last Big Daddy IPA or Prohibition Ale had best make a trip to the store: The remaining inventory has already been shipped to distributors, and is only available until it runs out.