Steelback On The Brink?
On July 25, 2009 At 2:19 pm
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TIVERTON, ON – It’s been slightly more than a year since Steelback Brewery was brought back from bankruptcy with new ownership and a renewed focus on brewing good quality beer, but two recent media reports make it appear that a second bankruptcy may be on the horizon.
Two weeks ago, the Kincardine News reported that president Ian MacDonald had left the company. No reason was given for his departure, but an official statement from the company stated that “Ian MacDonald and Steelback Brewery have decided to part ways”, and that owner Jon Sherman had taken over as president.
And this past week, the Owen Sound Sun-Times reported that 35 Steelback employees had been laid off, with only a bare bones staff of four retained to continue selling beer. According to Sherman, low sales forced the move, but he’s hopeful that the company will be able to regroup and become profitable in the future. He expects a decision to be made on the company’s future “within a couple of weeks”.