New owners are being sought for Dunscar Bridge Brewery, Bolton, after it was placed into administration on 26 September.
The brewery ceased trading on this date and 12 jobs were lost.
Ian McCulloch and Dean Watson of business rescue service Begbies Traynor were appointed as joint administrators.
Glenn Jones, general manager at the brewery, told The Morning Advertiser not having a pub estate meant sales were unable to cover brewing costs despite heavy investment over the past three years.
He said: We tried a whole range of alternative approaches, channels, distribution, segments of the market but without that consistent high level of sales, eventually with very, very heavy hearts, we had to concede defeat.
“If it is bought by a pub company, national distributor or drinks company then it can flourish and grow.
“Our beers are now being recognised as consistent, top-quality ales and would serve any buyer well.”
The company grew from a small 3.5 brewers’ barrels plant in the brewhouse pub to a 27.5 brewers’ barrels operation at a new plant in the former Dunscar Bridge textile processing works.
It incorporated the Bleachworks private function room, which was a popular party venue for the area.
Dunscar Bitter ale received an award from the Society of Independent Brewers (SIBA) at the SIBA Great Northern Beer Festival in 2012.
McCulloch said: “Dunscar was a well-established and highly regarded brand supplying products to the local area and beyond.
“Unfortunately, it has ceased to trade as a result of rising costs in an increasingly competitive industry.
“We are currently in the process of marketing the business and assets for sale in order to identify interested parties that may wish to continue the business.”