The majority of New York craft brewers have seen their sales drop by 75% or more and nearly half have stopped production entirely, according to a survey conducted by the New York State Brewers Association (NYSBA).
More aid money is on the way for small businesses. President Donald Trump today signed into law a fourth stimulus package that includes $310 billion in additional funding for the Paycheck Protection Program (PPP), which ran out of money and stopped accepting applications on April 16.
Michigan’s Founders Brewing Company plans to furlough 163 employees of its taproom and retail stores in Detroit and Grand Rapids, according to a Worker Adjustment and Notice Retraining Notification Act (WARN) filing with the state’s Department of Labor and Economic Opportunity dated April 20.
The Brewers Association (BA) today announced it has formed a partnership with nonprofit fundraising organization Bottleshare to establish the “Believe in Beer Fund” to support breweries and state brewers guilds across the country that have been affected by the COVID-19 pandemic.
In this live streamed panel, founders from Trillium, Other Half and WeldWerks touch on the moves they’re making, what’s working and what’s not, shifts in production, how they’re handling beer releases when consumers can no longer lineup at their breweries, and much more.
Next Glass, the parent company of beer-centric social media platform Untappd, announced today it has received “a significant growth investment” from Providence Strategic Growth, a Boston-based equity firm focused on media, communications, education and software.
The story of Boston Beer Company’s Truly Hard Seltzer brand remains the same; the company can’t keep up with demand for the hard seltzer category’s second largest brand. The mid-March pantry stock up caused by the novel coronavirus shutting down virtually all on-premise sales led to a spike in Truly sales earlier than expected.
Boston Beer Company posted double-digit depletions, shipments and net revenue growth in the first quarter of 2020, continuing momentum that propelled the company to $995.7 million in revenue in 2019.
COVID-19 is forcing brewery owners across the country to make hard decisions. Surly Brewing founder Omar Ansari has made his share of those decisions over the last month after shuttering his beer hall, pizza place and event space in mid-March. Couple those closures with the shutdown of on-premise sales, and around 60% of Surly’s revenue evaporated overnight.
German officials today cancelled the country’s famed Oktoberfest celebration due to concerns about the COVID-19 pandemic. The California Craft Brewers Association — a nonprofit trade group that represents the interests of the state’s craft brewers — announced today the cancellation of its “Craft Beer Summit,” which was scheduled for September 9-12 in Long Beach.
As the craft beer industry navigates the complexities the COVID-19 pandemic has wrought on the on-premise channel, Brewbound is gathering leaders to discuss how brewers nationwide are approaching the circumstances. Join us this Thursday, April 16 at 3 p.m. ET for a live streamed virtual panel discussion with leaders from breweries in states where social distancing measures have not yet been put in place by state order.
A pair of recent surveys of craft brewery owners in South Carolina and California have revealed the financial pressures the novel coronavirus disease COVID-19 have placed on small beer companies. A survey released by the South Carolina Brewers Guild on April 14 showed that 80% of the state’s breweries may be forced to close within the next three months if the current shutdown of on-premise and at-the-brewery sales remain in place.
Drizly, the on-demand e-commerce marketplace for alcoholic beverages, has seen record numbers of both new customers and sales since the COVID-19 pandemic began forcing millions of Americans to stay home in mid-March.
The Reyes Beer Division has made its third acquisition in California of 2020, reaching an agreement to acquire the assets of Richmond, California-based Bay Area Beverage Company.
