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From the UK, flights have also been cancelled for many Middle East destinations, including all flights to Israel and Bahrain, three quarters of the day’s scheduled flights to the United Arab Emirates, and more than two thirds (69%) of flights to Qatar.

Scottish craft beer group BrewDog has closed all of its bars for a day as it seeks to finalise the sale of the business, marking a pivotal moment for one of Britain’s most high-profile independent brewers.

The Aberdeenshire-founded company confirmed that none of its sites would open on Monday to allow staff to attend company-wide meetings and to comply with licensing requirements linked to an anticipated change of ownership.

Chief executive James Taylor told employees in an internal email that the temporary shutdown was necessary to ensure colleagues across the global business could be briefed directly on the next phase of the process.

“We appreciate this is an unsettling time for everyone, and we want to ensure that all colleagues have the opportunity to hear directly from us about what happens next,” he wrote.

“To enable everyone to attend, and to comply with licensing issues arising from an anticipated change of ownership, we have taken the decision that none of our bars will open tomorrow.”

Food and beer deliveries were also cancelled, along with customer bookings for the day.

The development follows BrewDog’s announcement earlier this month that consultants AlixPartners had been appointed to oversee a structured and competitive process to evaluate strategic options, including a potential sale. The move came after the company reported sustained losses in recent years, most recently a £37 million loss in 2024.

Founded in 2007 by James Watt and Martin Dickie, BrewDog grew rapidly from a rebellious challenger brand into a global operator with around 60 bars in the UK and a presence in the US, Australia and Germany. At its peak, the group was valued at more than £1 billion and became a symbol of the craft beer revolution.

However, the company has faced mounting financial and reputational challenges. In October last year it announced job cuts across the business. Earlier this year it confirmed the closure of 10 UK bars, including its flagship Aberdeen site, and halted production of its gin and vodka lines at its Ellon distillery to focus on core beer operations.

BrewDog currently employs approximately 1,400 staff worldwide, with the majority based in the UK.

Corporate law specialists say the bar closures signal that the sale process is entering a more advanced and formal phase.

James Howell, managing director at Rubric Law, said the situation reflects a shift from exploratory talks to a tightly managed M&A campaign.

“What’s happening at BrewDog is a clear example of what unfolds when performance hasn’t met expectations,” he said. “After several years of losses and continued cost pressure, the decision to appoint advisers and run a competitive process is about value discovery and deal certainty, not just finding a buyer.”

“In practice, advisers will structure bidder rounds, control information flow and drive comparable offers. That framework matters even more when profitability is under scrutiny, because it protects value and prevents opportunistic pricing from early bidders.”

He added that buyers are likely to focus heavily on margins, lease exposure and operational efficiency rather than simply brand strength.

“Brand alone cannot bridge gaps in fundamentals,” Howell said. “One of the biggest legal risks in a process like this is weak readiness. If issues surface in due diligence — contracts, governance or shareholder rights — they can quickly affect valuation or derail momentum.”

The company’s ownership structure may also complicate proceedings. BrewDog previously raised capital through its “Equity for Punks” crowdfunding scheme, resulting in a broad base of minority shareholders. Alignment and drag-along provisions will be key to executing any transaction smoothly.

BrewDog’s trajectory has also been shaped by leadership changes. James Watt stepped down as chief executive in 2024, moving to the role of “captain and co-founder”, while Martin Dickie exited the business last year for personal reasons. Watt had faced scrutiny following allegations about workplace culture, highlighted in a BBC documentary, though a subsequent complaint to Ofcom was rejected.

The group’s shift from aggressive expansion to retrenchment mirrors broader pressures in hospitality, with rising costs, softer consumer spending and higher borrowing rates squeezing margins across the sector.

For now, BrewDog insists operations will resume as normal following the one-day closure. But the coordinated shutdown of all bars underscores the seriousness of the moment.

Whether the outcome is a full sale, break-up or recapitalisation, the process marks the end of an era for a brand that once defined Britain’s craft beer insurgency, and now finds itself navigating the realities of scale, profitability and investor expectations.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

The former director-general of the Confederation of British Industry set to succeed Dame Clara Furse

The former director general of the Confederation of British Industry (CBI) has been named as the incoming chair of HSBC UK.

The banking giant said Dame Carolyn Fairbairn would assume the role at the end of the current half-year period. The existing chair, Dame Clara Furse, is preparing to step down from the non-executive position in the months ahead following nine years of service.

Dame Carolyn, who headed the CBI until 2020, currently serves as chair of HSBC’s group remuneration committee and will move to the new role subject to regulatory clearance.

HSBC said the appointment follows a “robust succession process which considered both internal and external candidates”.

The announcement comes just three months after Brendan Nelson was appointed as chairman of the broader HSBC group.

Mr Nelson said: “I would like to thank Dame Clara for her dedication, commitment and the significant contribution she has made to HSBC during her time as chair of HSBC UK.

“I believe that Dame Carolyn’s deep understanding of the UK business and regulatory landscape will be invaluable in the next phase of delivery of HSBC UK Bank’s growth strategy and as we deliver for our investors, customers, communities and employees.”

Meanwhile on Monday, competing lender Santander UK confirmed that Nicola Bannister will become chief executive of TSB Bank following its acquisition of the high street bank.