Huddersfield-based Magic Rock Brewing Co., part of the In Good Company (IGCO) group, has filed a notice of intent (NOI) to appoint administrators. Legal firm Fladgate filed the NOI on 6 January, providing the company with protection from creditor claims while it seeks to address its financial challenges.
This development follows the liquidation of IGCO-owned Fourpure Brewing in October 2024. IGCO stated at the time that the decision aimed to shield the brand from future liabilities and mitigate ongoing market pressures in the beverages sector. Fourpure’s London brewery was closed in August 2024, with production shifted to Magic Rock’s facilities.
Founded in 2012 by Richard Burhouse, Magic Rock was sold to multinational brewing group Lion in 2019 before being acquired by IGCO in August 2022 (inside.beer, 09.07.2018). Despite its continued presence in major UK retailers such as Asda, Waitrose, and Morrisons, the brewery has faced significant financial challenges. Its last reported accounts for 2021 showed a pre-tax loss of GBP 64,000, with turnover dropping by 9.7% to GBP 5.3 million. Financial statements for 2022 remain overdue.
The administration of Fourpure highlighted financial pressures for IGCO, leaving creditors, including HMRC, with losses totaling GBP 5.6 million. Following the liquidation, IGCO purchased Fourpure’s intellectual property and goodwill for just GBP 100,000.
Magic Rock’s workforce has also seen substantial reductions. While the brewery employed 65 staff on average in 2021, this number is now understood to be significantly lower. IGCO has yet to comment on the latest developments, leaving the future of Magic Rock uncertain.
