BrewDog Loses 70% Of Its Revenue Overnight

, BrewDog Loses 70% Of Its Revenue Overnight

(Courtesy BrewDog)

With the impact of the COVID-19  shutting down bars and retail operations around the world, BrewDog co-founder James Watt revealed that his company lost 70% of its revenue overnight due to the fast speading pandemic.

The hits just keep coming…

In an interview with business journalist Ian King on Sky News, Watt said the company was doing its best to stay afloat in turbulent times and trying to save as many jobs as possible…

“As well as doing our best to survive, we want to do what we can to help the country get through this quickly and in the best shape possible”.

, BrewDog Loses 70% Of Its Revenue Overnight“We’re using our distillery to make hand sanitizer and giving it away. It’s going to come at a cost to the business, but I think it’s the right thing to do at this time, which is a challenging time for everyone.”

“We’ve been using some of our team members to go into supermarkets and help keep beer on the shelves. We’re using also using our bar network as delivery hubs, so people can get beer on demand at home.

Earlier in the week Watt took to social media to chastise PM Boris Johnson for not mandating UK bar and restaurant closures, yet advising people not to go…saying that his statements would send hundreds of thousands into unemployment…

“One thing I think we don’t yet realize is that Covid-19 and governments’ response to it is going to create the biggest unemployment crisis we have ever seen and propel millions of families into poverty. Every business now faces a grim battle to both survive and protect livelihood.”

On March 17 (ironically St Patrick’s Day), the Aberdeen, Scotland headquartered and now global craft brewery announced the cancellation of its biggest event, something they call #PunkAGM, an annual gathering of its Equity Punk shareholders, due to coronavirus concerns.

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