Baltimore-based Guilford Hall Brewery has acquired the Flying Fish brand, recipes, trademarks, and wholesaler agreements through a bankruptcy auction, according to NJ Advance Media.
More than 55 bidders placed winning bids for some of the assets in the auction, many for less than $500, the outlet reported. A total of 93 bidders took part in the auction with the company grossing $703,693 and netting $597,925.
Flying Fish had attempted to reorganize under Chapter 11 bankruptcy in December but failed to restructure and began an auction process. The auction followed a failed sale of the brewery to Cape May Brewing last year.
Guilford Hall owner Stefan Popescu paid $152,500 for the brewery’s intellectual property and distribution deals, according to Patch. The new owner plans to continue East Coast distribution of Flying Fish products, but will shutter the brewery’s 45,000 sq. ft. Somerdale location.
Flying Fish’s Facebook account posted an image of a Spirit Halloween banner over the brewery location on February 18 with the caption: “Coming soon … we kid but who knows what will come of the building once its contents have been moved to their new homes? Signing off of this account now as it’s probably part of the IP that now belongs to the new owners. But I had to leave everyone with a giggle.”
