San Francisco’s Anchor Brewing Company says it is ceasing operations
In a press release, Anchor Brewing spokesperson Sam Singer said financial pressures made the business “no longer sustainable” and that employees were given 60 days’ notice Wednesday. In June, Anchor Brewing limited its distribution to California and took one of its most popular beers.
“The inflationary effect of product costs in San Francisco is a factor,” Singer told SFGATE at the time. “Couple that with a highly competitive craft beer market and a historically expensive steam brewing technique. [They’ve] probably thought about this decision for a year. It’s not something they take lightly.”
On Wednesday, Singer reiterated the financial conditions.
“This was an extremely difficult decision that Anchor made only after many months of careful evaluation,”[ads1]; he said in a statement. “We recognize the importance 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 left the company with no choice but to make this sad decision to to cease operations.”
Founded in 1896, Anchor advertises itself as America’s first craft brewery. It was sold to Sapporo in 2017.
Wednesday’s press release stated that the company plans to “provide transition support and separation packages” to departing employees, and that the Anchor Public Taps tap on De Haro Street will remain open temporarily to sell remaining inventory. Brewing has ceased, but the brewery says it will continue to package and distribute beer on hand until the end of July.
Anchor Brewing also said Wednesday that efforts over the past year to find a buyer had been unsuccessful, but that it could emerge during the liquidation process.
