Eden Mill Distillery rescued: Scottish firm based in St Andrews saved from administration as Ruby Capital steps in - securing all jobs
The Eden Mill Distillery in St Andrews, Edinburgh, has been saved from administration - after only officially opening recently.
On 18 November, two administrators from Begbies Traynor were appointed to take control, it has emerged. Suddenly, 42 jobs were at risk, and there was a real chance that the firm could be sold off.
However, the Scottish distillery was swiftly acquired by Ruby Capital, an investment firm. They took over both the company and all of the distillery’s assets.
The purchase price has not been disclosed. But it is clear that it is enough to settle the debts, secure continuity, and keep operations running without the distillery having to shut its doors for good.
Tony Banks, founder of Ruby Capital, says he has confidence in the distillery’s future. He believes his investment is in good hands, even if the whisky market remains somewhat unsettled.
Banks also notes that there will be no changes to staffing or the distillery itself in the near term. For suppliers, too, nothing will change.For now, Eden Mill’s focus is squarely on the future and on recovering from the difficult situation it faced. The opening of the visitor centre is seen as a key part of this fresh start.
Whisky lovers will not only find a whisky experience, with a variety of tasting options there, but also an indoor golf course.