Investment efforts fail for the community-owned whisky maker in Dingwall.
GlenWyvis Distillery in Dingwall has filed a notice of intention to appoint administrators after efforts to secure fresh investment failed. The notice, lodged at the Court of Session in Edinburgh, provides a period of protection of up to 10 days for the community-owned distillery while next steps are determined.
The management committee informed members that a prolonged period of financial pressure had depleted its cash reserves. This was attributed to challenging conditions in the whisky market, rising operating costs, and ongoing issues with its landlord. An external fundraising process, led by Interpath Advisory, did not secure enough capital for the society to continue trading as a going concern.
The filing of the notice does not mean administrators have been appointed. During this protection period, the committee will work with Alistair McAlinden and Geoff Jacobs of Interpath, who are the proposed joint administrators.
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Members have been told they cannot withdraw their share capital during this period. Restrictions also apply to bondholders, and interest payments will cease. The eventual outcome for investments in the distillery remains uncertain.
The committee stated it was working on an approach for privately owned casks held through the society. Cask owners do not need to take any action at present and are expected to receive a separate update if administrators are appointed.
GlenWyvis had previously warned members that it faced significant difficulties and needed substantial new investment. The committee described the news as “incredibly difficult and disappointing” for those who had supported the distillery.
