Brewing re-starts at Copper Dragon Brewery

Production at North Yorkshire's Copper Dragon Brewery re-started this week after the company was purchased from administrators by former owner Steve Taylor in a £3m deal.

Administrators were called in last month after a high street bank withdrew its support jepardising the future of the company's 55 strong staff working at the brewery's Skipton headquarters.

The rescue package follows the liquidation last November of Copper Dragon's separate retail pub estate company.

Two freehold pubs and leases on a further four other houses have now reverted to the brewery as part of the deal.

The new arrangements sees Taylor now owning 100% of the company after he also bought out the interests of outside backers who had a 25% stake.

Taylor said the pubs had made significant financial losses and had been a drain on the brewery's resources.

But he said the withdrawal of support by the bank had been "unexpected" after he had refused to grant it an increased share of equity.

Copper Dragon was founded by Taylor in 2002 and last year moved to a purpose-built new £4.5m site.

Brewery business increased by 50% last year enabling the company to record turnover levels of £4m.

The company said it was confident about the future with 10 new posts expected to be created over the next 12 months.