Can I Buy Shares in BrewDog?

No. BrewDog entered administration in March 2026, and its brewing operations and brand were sold to Tilray Brands for a reported £33 million through that process. There are no shares to buy.

For the 200,000-plus "Equity Punks" who backed the company — collectively over £100 million — the reported outcome is the worst one: shareholders are expected to receive nothing.

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What happened

BrewDog raised money directly from the public through Equity for Punks, a series of crowdfunding rounds marketed hard to its own customers. It worked: more than 200,000 people bought in, and the company was at one point valued near £2 billion.

The business never converted that into sustained profit. After years of losses it entered administration in early 2026. Dozens of bars closed, hundreds of staff were made redundant, and the brand and brewing operations were bought by Tilray through the administration process.

That last detail matters more than it sounds. When a business is sold out of administration, the buyer typically acquires the assets — brand, kit, operations. It does not take on the old company's shareholders. So the brand carries on trading while shares in the previous company are, in practice, worthless.

What it means if you were an Equity Punk

Blunt version: the money is very likely gone. In an administration, shareholders rank last — behind secured lenders, HMRC and other creditors. Ordinary shareholders receive something only if everyone ahead of them is paid in full, which almost never happens.

Practical steps:

• Find the administrators' correspondence. They're required to report, and their updates give the actual position rather than press speculation.
• Don't pay anyone to "recover" your shares. Collapsed companies attract recovery scams; an upfront fee to reclaim a worthless holding is a well-worn fraud.
• Keep your paperwork — what you paid and when. You'll need it for the tax point below.

You may be able to claim the loss against tax

This is the one piece of good news, and it's frequently missed.

When shares become worthless you can generally make a negligible value claim to HMRC. That treats you as having sold and immediately repurchased them for nothing, crystallising a capital loss you can set against capital gains — in the same year, or carried forward.

There may be more. Shares in a qualifying unlisted trading company can attract share loss relief, which may allow the loss to be set against your income rather than only against capital gains. That's considerably more valuable for most people, which is why it's worth asking rather than assuming.

Whether either applies depends on the shares, the company's status and your own circumstances — so check with HMRC or an accountant, and do it while you still have the records. General information, not tax advice.

The lesson, at real cost

BrewDog is now the clearest UK example of what buying crowdfunded equity actually means:

• There was never a market. No exchange, no live price, no way out when things turned.
• The valuation was the company's own figure, set at funding rounds — not a price anyone was obliged to pay you.
• An IPO was always speculation, never a plan you could rely on.
• Shareholders rank last. However much you love a brand, equity is the riskiest position in the capital structure.

None of that makes crowdfunding always wrong. It means the amount should be one you can genuinely afford to lose, because early-stage and unlisted investments fail often — and enthusiasm for a product is not an investment case.

The same structural points apply to any private company, including Monzo, which also sold shares to its customers. Monzo hasn't had BrewDog's problems — but its shareholders are in the same position of holding something they can't readily sell.

How to check whether any company is listed

The same three checks work for any name you're curious about:

• Search the company plus "investor relations". Listed companies always have an investor relations page; private ones don't.
• Look for a ticker and an exchange — something like LSE, NYSE, NASDAQ or TYO followed by a short code. No ticker, no shares to buy.
• Check who the parent is. Plenty of famous brands are subsidiaries. You often can't buy the brand, but the parent may well be listed.

If a company is private, the only routes in are usually employee schemes, or a stake being sold to institutions — neither of which is open to ordinary investors.

Frequently asked questions

Did BrewDog go into administration?

Yes. BrewDog entered administration in early 2026, with its brewing operations and brand subsequently sold to Tilray Brands through that process.

Will Equity for Punks shareholders get their money back?

Reporting indicates shareholders are expected to receive nothing. Shareholders rank behind secured lenders, HMRC and other creditors in an administration, and rarely recover anything.

BrewDog still exists — doesn't that mean my shares are worth something?

Unfortunately not. The brand and operations were bought out of administration, which transfers the assets to a new owner. It doesn't carry over the previous company's shareholders.

Can I claim tax relief on my BrewDog losses?

Possibly. A negligible value claim can crystallise a capital loss, and share loss relief may allow a loss on qualifying unlisted trading company shares to be set against income. Check your own position with HMRC or an accountant.

Can I still buy BrewDog shares anywhere?

No. There's no market for the old shares and the business now sits under different ownership. Be extremely wary of anyone offering to buy or sell them.

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You can't — private or member-owned: FC Barcelona · Liverpool FC · West Ham United · John Lewis · Rolex · Mars · Lego · Aldi · Dyson · SpaceX · Monzo · Thames Water · Octopus Energy

You buy the parent instead: Rockstar Games · Primark · Cadbury

Yes — these are listed: Greggs · Wetherspoons · Nintendo (Tokyo)

General information only, not investment or tax advice. Details of the administration are based on reporting at the time of writing and the position may develop — check the administrators' published updates for the authoritative position. Free money and debt help is available from Citizens Advice and StepChange.