Waterford was based in 2015 by trade veteran Mark Reynier, proprietor of Renegade rum in Grenada and the person behind the revival of Islay’s Bruichladdich distillery within the early 2000s.
Receivers had been appointed this week which implies if a brand new purchaser doesn’t are available for the model quickly, its property together with the distillery will possible be offered off.
“It’s tragic information,” Reynier informed The Irish Instances on Wednesday. “Something I’m going to say isn’t going to be enough to explain my emotions proper now. It’s been a fantastic effort from the entire Waterford staff. They’ve given nice dedication, executed a fantastic job. I’m sorry I’ve allow them to down.”
Studies recommend that Waterford accounted gross sales of €3m in 2022, down from €3.3m the earlier yr. The drop in income is alleged to be primarily based on its alternative of distribution accomplice within the US, but its accounts additionally confirmed the corporate had amassed losses of €7.7m, and simply over €40m in whiskey shares.
The Waterford distillery was primarily based in an previous Guinness brewery and Reynier got down to create terroir-led whiskey, mimicking the wine trade by means of barley.
Waterford is at the moment ranked quantity 44 in The World’s Most Admired Whiskies.
