E-Malt.com News article: USA, IN: Tow Yard Brewing looking for new owner

Tow Yard Brewing Co. in Indianapolis is looking for a new owner. The company, which filed for Chapter 11 bankruptcy protection in January, plans to auction off all of its equipment at a court-ordered auction next month, unless a buyer comes forward to acquire the brewery, the Inside Indiana Business reported.

The onsite auction is scheduled for April 9 and will include all of Tow Yard's brewing, restaurant and bar equipment, as well as seating and furnishings. Indianapolis-based Key Auctioneers will conduct the auction and says the items up for auction range from a 20-barrel brewing system to a 16-tap beer dispenser system and three walk-in coolers.

Key Auctioneers says potential buyers would not only acquire the brewery and restaurant assets, but the company's intellectual property, including recipes, trademarks and copyrights, website and social media accounts.

In January, the company announced on Facebook it had filed for bankruptcy as it renegotiated its lease in downtown Indy. The post said at the time the brewery was not closing, but rather "we are rebuilding and plan to come out a superior brewery." Another post last week stated the brewery was "temporarily closed while we reinvent!"

The auction is scheduled to begin at 10:00 a.m. on April 9 at the Tow Yard Brewing location at 501 Madison Avenue in Indianapolis. A preview of the items available will take place April 6 from 10:00 a.m. to 2:00 p.m.


29 March, 2018