The oldest craft brewery in the United States is shutting down after 127 years | CNN Business

The San Francisco-based company announced Wednesday it’s ceasing operations and liquidating the beloved business “following a combination of challenging economic factors and declining sales since 2016,” a press release said. Craft brewers, in particular, have been struggling for a variety of reasons including changing consumer habits, rising costs and lingering supply-chain challenges. Another problem has been Sapporo, the Japanese beer company that bought the brand in 2017.

Anchor said that those decisions were made to “reduce costs while final attempts were made to evaluate all possible outcomes,” however, “in the end, expenses simply continued to outstrip revenues, leaving the company with no other viable choice.” Sapporo has made “repeated efforts” over the last year to sell the business, Anchor said. But those efforts have failed, though Anchor did say it’s “possible that a buyer will step forward for the brewery as part of the liquidation process.

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.

SF's Anchor Brewing Company, country's 1st craft brewery, shutting down after 127 years'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.'
Source: abc7newsbayarea - 🏆 529. / 51 Read more »

Historic Anchor Brewing Company in San Francisco ceasing operations; Will file for bankruptcyA landmark company in San Francisco has turned off its taps.
Source: KPIXtv - 🏆 443. / 53 Read more »

Century-old San Francisco Anchor Brewing company closingAnchor Brewing Company officials announced early Wednesday that it will cease operations and liquidate the business -- established in 1896 -- citing economic factors including declining sales since 2016.
Source: KTVU - 🏆 465. / 53 Read more »