After 127 years in operation, Anchor Brewing Co., a cherished institution in San Francisco, has announced its closure due to declining sales and difficult economic conditions. The company cited the impact of the pandemic, local inflation, and intense competition in the craft brewing industry as the reasons behind its decision.
Anchor Brewing Co. made persistent efforts over the past year to find potential buyers for the brewery and its renowned beer brands, but unfortunately, no suitable buyer was found. However, there is still a possibility that a buyer may come forward during the liquidation process.
The tweet below verifies the news:
San Francisco institution Anchor Brewing Co., the godfather of steam beer, is shutting down after 127 years.https://t.co/n81OmSjUMt
— San Francisco Chronicle (@sfchronicle) July 12, 2023
In response to the challenging environment, Anchor Brewing Co. had recently restricted beer sales to California and reduced production of its popular Anchor Christmas Ale to cut costs.
While the company has halted brewing operations, it will continue packaging and distributing its remaining beer inventory until it is sold out or until the end of the month. Anchor Public Taps, a retail outlet associated with the brewery, will remain open temporarily to sell the remaining inventory, including a limited quantity of the 2023 Anchor Christmas Ale.
Employee Support: Anchor Brewing Co. has provided a 60-day notice to its employees and intends to offer transition support and separation packages to help them navigate this period of closure.
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