Brewdog founder admits 'many mistakes' as hundreds lose jobs in sale
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James Watt apologises to staff and investors after hundreds of jobs were lost with the sale of the brewer and pub chain.
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Brewdog founder admits 'many mistakes' as hundreds lose jobs in sale 27 minutes ago Share Save Paul O'Hare BBC Scotland Share Save Brewdog co-founder James Watt has apologised to staff and investors and admitted he made "many mistakes" after hundreds of jobs were lost following the sale of the brewer and pub chain this week. The company's brewery and 11 bars were bought by US firm Tilray for £33m after it went into administration on Monday - but 38 other pubs closed and 484 staff have been made redundant. Unions, staff and investors have voiced anger at how the sale of the business was handled. In a statement posted online, Watt said it had been an "incredibly hard" week and that he was "heartbroken" for those who had lost their jobs and invested in its Equity For Punks scheme. Watt co-founded the company in Aberdeenshire with Martin Dickie in 2007. At the height of its success Brewdog owned four breweries and about 100 pubs around the globe and was said to be worth more than $1bn. However, the company suffered years of bad headlines, with staff complaints about workplace culture and allegations of inappropriate behaviour . Watt stood down as CEO in 2024 and Dickie left the company just over a year later. In his statement, which was posted on LinkedIn, Watt said he had "no idea what I was really doing" in the early days and that in hindsight he would have done things differently. "At times we expanded too fast and diversified too broadly," he wrote. The millionaire businessman said he did not control spending well enough at times, and had not responded to some of the crises faced by the business "in a way that was authentic and true to who I am". He added: "During my 17 years in charge there were highs, lows, successes, failures, huge gambles and many mistakes along the way. "Ultimately, the mistakes hurt far more than the successes console." Watt said he "would have loved" to have saved every job and every equity punk investment. He added: "Ultimately, I couldn't. ...
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