After 127 years in business, San Francisco's Anchor Brewing Company is shutting down.ABC7 Bay Area 24/7 streaming channelAccording to a press release, the brewery has been facing challenging economic factors and declining sales since 2016.
"This was an extremely difficult decision that Anchor reached only after many months of careful evaluation," Anchor Brewing spokesperson Sam Singer said. "We recognize the importance and historic significance of Anchor to San Francisco and to the craft brewing industry, but the impacts of the pandemic, inflation, especially in San Francisco, and a highly competitive market left the company with no option but to make this sad decision to cease operations.
Anchor had recently limited sales of beers to California but now with the stopping of brewing, they will continue packaging the beer on hand through the end of July. The company's assets will be put up for sale as an alternative to bankruptcy. Anchor has had no luck in finding buyers for the brewery, but state in the press release that one may still come forward in the liquidation process."Anchor is grateful for its employees who exude so much passion for the Anchor brand," Singer said. "Anchor thanks them for their commitment and all that they have done to build and care for this beloved brewery.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »