Manchester-based Alderman’s Drinks, the company that produces Didsbury Gin, has gone into liquidation after owing its creditors nearly £200,000 (US$245,877).
Didsbury was founded by best friends and gin lovers Liam Manton and Mark Smallwood in 2017, who according to the brand’s website, wanted to ‘take gin to the next level’.
A year after founding the brand, the pair won a £75,000 (US$88,952) grant after appearing on BBC television series Dragons’ Den, which in return would take a 10% stake in their business.
Manton and Smallwood were awarded a Medal of the Order of the British Empire (BEM) in the King’s 2023 New Year’s Honours list.
The range includes Didsbury Gin Original and Rapsberry & Elderflower, while the company also launched a rum brand named Arlu in 2020.
Alderman Drinks filed for liquidation on 19 December 2024 according to a document on Companies House, with Gareth Howarth of Path Business Recovery appointed as liquidator.
In its statement of affairs, also registered on Companies House on 19 December 2024, it was shown that the company’s estimated total owed to creditors was £195,924,28. Among the 12 creditors owed are £64,886 to Natwest from a bounce back loan, Greencroft Bottling for £40,657, Union Distillers £24.183 and Berlin Packaging for £21,401.
A resolution to voluntarily wind up trading was passed following a general meeting on 4 December.
Since receiving funding on Dragon’s Den, the brand went on to secure £420,000 (US$528,800) in investment – £100,000 (US$126,000) from the NPIF FW Capital Debt Finance fund in 2019 and then £320,000 (US$402,900) in early 2020 – to grow in the UK with retailers and bars, including Harvey Nichols and pub chain JD Wetherspoon.
The investment was also said to help it expand internationally in addition to growing the company’s client base in the UK. Furthermore in 2019, the brand also reported that it doubled its annual turnover to £1.5 million (US$1.8m).
The Sprits Business has reached out to Alderman’s Drinks for comment.
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Author: Rupert Hohwieler
