Irish Distillery Faces Liquidation After Failing to Find Investor

(Photo: Stillgarden Distillery)

Dublin-based Stillgarden Distillery is preparing to close after failing to secure new investment, putting the independent Irish spirits producer into creditors’ voluntary liquidation unless a buyer or investor comes forward, the Irish Times reported.

The company announced Thursday that its parent business, Disruptive Spirits, would be placed into liquidation unless new backing could be found. Stillgarden has ceased trading, with a liquidator expected to be appointed.

“The business is now ceasing to trade, with a liquidator to be appointed,” co-founder Victoria Baird said, according to Drinks International.

Stillgarden produces Irish herbal liqueurs, including O’Maro, an Irish interpretation of Italian amaro. Founded by Baird, Pat O’Brien and Damien Heary, the distillery uses botanicals grown in its own garden in Dublin’s Inchicore neighborhood. Its operations also included distillery tours, tastings and garden events.

The company established distribution in Ireland and the U.K., with products stocked by online retailer Master of Malt. In its statement, Stillgarden said its U.K. logistics were already in place and that its directors believed the brand could continue to grow with the right financial backing.

Baird said the company had reduced costs and pursued potential investors but could no longer fund operations independently.

“We made the business leaner, built a brand that people love here and in the UK, and put everything into finding the right investor to take it to the next level,” she said. “There is real demand for what we make. What a small independent distillery needs is capital, and we simply could not keep funding it ourselves.”

Stillgarden is continuing to seek a potential buyer for its brand and business. Interested parties can contact the company about acquiring its brand, recipes, inventory or operations at [email protected].

“We would love to see Stillgarden carry on in the right hands,” Baird said, encouraging people in the spirits industry who see potential in the business to get in touch.

The company also thanked its employees, customers, retail and bar partners, suppliers and investors who supported it through crowdfunding and the European Institute of Innovation for Sustainability.