Hopefully you weren’t waiting on a new brewhouse from DME Brewing Solutions. The future sure seemed bright for the brewhouse manufacturer two years ago when Diversified Metal Engineering (DME) and Newlands Systems merged, but news broke last week that the company defaulted on its loan payments to the Royal Bank of Canada and is now in receivership — which screws over every craft brewery that’s been waiting on new equipment to ship.
The list of unsecured creditors is wildly long and includes a ton of big-time U.S. breweries, from New Belgium Brewing and Maine Beer Co. to AB InBev brands 10 Barrel Brewing and Wicked Weed. The coverage from Brewbound has reactions from many of the affected breweries.
All hope isn’t lost though. The Royal Bank of Canada appointed Alvarez & Marsal as the receiver firm and is looking for a buyer to revive the business. It is accepting bids through Jan. 7, 2019.
Scott Swygert says
December 17, 2018 at 10:12 pmThose deposits are gone.