The makers of San Francisco’s famous Anchor Steam beer go bankrupt


San Francisco-based Anchor Brewing will turn off the taps and shut down the century-old brewery whose contribution to the «history of American beer cannot be overstated,» he said Wednesday.

The company, one of the oldest craft breweries in the country, founded in 1896, «will cease operations and liquidate business following a combination of challenging economic factors and declining sales since 2016,» it said in a statement.

«Like many breweries and breweries, Anchor has been dramatically impacted by economic pressure which has made the business no longer sustainable,» he said.

Wednesday’s announcement triggered a 60-day period for operations to cease completely and the company to pay «severance packages» to eligible employees, officials said.

Brewing operations have already been halted, but the company will continue packaging and distributing the remaining beer in a process that will likely take until the end of this month.

Anchor Steam fans probably knew there was bad news a few weeks ago when the brewer announced that it would not be producing its popular christmas beer this year.

“This was an extremely difficult decision that Anchor made only after many months of careful evaluation,” company spokesman Sam Singer said in a statement.

“We recognize the importance and historical significance of Anchor to San Francisco and to the craft beer industry, but the impacts of the pandemic, inflation, especially in San Francisco, and a highly competitive market left the company with no choice but to grieve this. . decision to cease operations.

It’s still possible that the company’s plant in San Francisco’s Potrero Hill neighborhood and its recipes and other assets could be bought in a liquidation sale, with a new buyer continuing the operation, Singer said.

«The Anchor team is hopeful that someone will see the value, the history and the benefit in buying a historic 127-year-old brewery and keeping it alive,» he told NBC News on Wednesday.

“But that is really in the cards and in the hands of the liquidators to see if someone steps up to make an offer,” he said.

A spokesman for the Brewers Association, which represents more than 5,400 craft beer brewers, distributors and retailers, said the trade group normally, by policy, does not comment on the opening or closing of any brewery.

But the impending closure of Anchor Brewing, an iconic San Francisco staple as famous as sourdough bread, Chocolate Ghirardelli either Rice-A-Roni — prompted him to offer a sincere compliment.

«Anchor’s contributions to craft beer brewing and American beer history cannot be understated,» chief economist Bart Watson said in a statement.

In the growing and changing landscape of craft brewing, not even beloved brands like Anchor have free access to the future of brewing, Watson said.

«While the brand’s longevity is a testament to its innovation, the craft brewing market has grown and changed radically in recent decades, and that change has only accelerated in recent years,» he said.

«A competitive distribution market and rising costs mean that even strong brands may struggle to find growth in a slow-growth environment that now includes nearly 10,000 breweries across the country. Anchor’s announcement partially reflects this new era of maturity. for crafts and must be taken in the context of the large and competitive market that Anchor helped create,» he said.

Anchor Brewing was purchased in 2017 by Sapporo USA A representative for the company could not immediately be reached for comment on Wednesday.

You may also like...