Overview: The GlenWyvis Distillery has filed for administration ten years after its establishment as a community benefit society. Dingwall-based operations face substantive legal issues and challenging market conditions, leading to the appointment of Interpath Advisory as Joint Administrators.
The Full Story
Established in 2015 as a community benefit society, the GlenWyvis Distillery went on to create award-winning whisky and gin while simultaneously investing back tens of thousands of pounds into the local community. The Dingwall-based business was hailed at the time as a pioneer in the industry after its first crowdfunding raised £2.5 million, with its society having more than 3800 members worldwide.
However, on Thursday the bosses behind the not-for-profit firm said it had filed a Notice of Intention to Appoint Administrators at the Court of Session in Edinburgh. The directors of GlenWyvis Distillery said the decision follows a prolonged period of substantive commercial, operational and legal issues on the business, driven by challenging conditions across the whisky market, rising operating costs and sustained external pressures.
Alistair McAlinden and Geoff Jacobs of Interpath Advisory have been nominated as Joint Administrators to lead an external fundraising process. Members of the society were informed directly ahead of the announcement, while private cask owners will receive a separate communication from the Joint Administrators with no action required at this stage.
Brand & Industry History
Dr Jock Ramsay, chairman of GlenWyvis Distillery, noted that for ten years this distillery has been owned by its community and sustained by the extraordinary support of its members, volunteers and staff. The Development Trusts Association Scotland supported GlenWyvis since its founding share offer, and over the years the business donated money to various cultural, educational and entrepreneurial projects in the area, including £30,000 between local primary schools, the Dingwall Museum and the Dingwall Gaelic Choir.
What This Means
The directors added that while the process generated interest, it did not secure the funding needed for the distillery to continue trading. Dr Jock Ramsay stated the appointment is a very sad day for all of us associated with GlenWyvis Distillery, as the team explored every available option to secure its future. Pauline Smith, chief executive at the Development Trusts Association Scotland, added that the difficulties the Society has faced do not diminish what community ownership can make possible.
Consumer Takeaway
Private cask owners will receive a separate communication from the Joint Administrators, and no action is required from them at this stage. The directors said members of the society were informed directly ahead of the announcement, and the focus now is on working with the proposed Joint Administrators to achieve the best possible outcome for our members, creditors and the wider community.
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