A prominent San Francisco company has turned off its taps.
Anchor Brewing officials announced early Wednesday that it would cease operations and liquidate the company — which was founded in 1896 — citing economic factors including declining sales since 2016.
The company gave employees 60 days’ notice “with the intent to provide transition support and severance packages consistent with company practices and policies,” according to the announcement from company spokesperson Sam Singer.
“This was a very difficult decision that Anchor came to only after many months of careful evaluation,” Singer said in the announcement. “We recognize the significance and historical importance of Anchor to San Francisco and to the craft brewing industry, but the effects of the pandemic, inflation, particularly in San Francisco, and a highly competitive market have left the company with no choice but to make this sad decision to cease operations.”
Anchor recently announced that it will limit sales of Anchor beer to California and that it will reduce production of Anchor Christmas Ale.
The ad says Anchor has stopped brewing and will continue to package and distribute beer on hand while it becomes available or until around the end of July. Anchor Public Taps will remain open temporarily, selling remaining inventory, including a small size of the 2023 Anchor Christmas Ale, which was brewed prior to the company’s recent decision to cancel the nationwide release.
“Anchor has invested great passion and great resources in the company,” said Singer. “Unfortunately, today’s economic pressures made the business unsustainable, and we had to make the heartbreaking decision to cease operations.”
Singer said the company is negotiating filing for federal Chapter 7 or 11 bankruptcy.
Based in the Potrero Hill neighborhood, the company bills itself as the first brewery in the country.
“Devoted student. Bacon advocate. Beer scholar. Troublemaker. Falls down a lot. Typical coffee enthusiast.”