Speakeasy Ales & Lagers Has Closed
San Francisco’s twenty year old Speakeasy Ales & Lagers has been forced to immediately cease brewing, packaging, and taproom operations at its San Francisco brewery for an indefinite period of time, according to an announcement today. During a recent trip to SF I heard complaints within the industry that the brewery’s packaged product quality–especially in cans–was quite bad, with high amounts of dissolved oxygen, which was leading breweries that contracted production with Speakeasy to sever ties.
According to the press release announcement:
Difficulty securing capital investment and outstanding debt obligations led to this difficult and painful decision. The company’s primary creditor will determine the future of the brewery and brand, and no decision or further information is available at this time.
According to Speakeasy founder and CEO Forest Gray, “The brewery has worked with multiple investment banking groups and have had numerous meetings. One fact has become central to the process, and that is the company is financially insolvent and requires new capital to move forward. Whether that will happen is unclear, but I do hope the brewery and brand will persist.”
Speakeasy would like to thank all of the wonderful customers, distributors, vendors, and retail partners who have supported the brewery, as well as current and former staff for their hard work and dedication. The remaining inventory of Speakeasy Ales & Lagers beer has been shipped to distributors and will be available in local and international markets while supplies last. Grab a six-pack of Big Daddy IPA or any other Speakeasy beer to savor the history of this pioneering brewery.