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Brewdog, the Scottish craft beer giant, has collapsed into administration after a rapid expansion into bars, hotels, and spirits. Once valued at £1.8 billion, the company sold its main brewery and eleven bars to US firm Tilray for £33 million, while shutting thirty-eight other pubs and cutting four hundred eighty-four jobs. The founders, James Watt and Martin Dickie, cashed out around £100 million each in a 2017 deal with private equity firm TSG, which poured in over £200 million for a twenty-two percent stake with steep eighteen percent annual interest. Tensions grew with board fights, pandemic losses, and claims of a toxic workplace culture, leading to the companys downfall.

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