Troubled Cains continue pulling pints at British Beer Festival

Aug 6 2008 by Alex Turner, Liverpool Daily Post

CAINS ales were served to thousands of beer drinkers yesterday as the Liverpool brewer continues to grow its brand despite its financial crisis.

The brewer was at the Great British Beer Festival, which is expected to attract 65,000 people during the five-day event at Earls Court, London.

Cains is facing a winding-up petition from HM Revenue and Customs after failing to pay a tax bill and it will have to go to the High Court next Tuesday unless the brewer can find funding.

The future of the company has been in grave doubt since last Friday, when the Bank of Scotland refused to back its funding plans.

Mike Benner, chief executive of Camra, the festival organisers, said: “Times are tough for lager brewers and many pubs as lager and keg beer sales are in freefall. Latest industry results suggest a 10.6% decline in pub beer sales.”

The firm has declared losses of £7.2m in the 20 months to April as its pubs business has been hit by difficult trading conditions. It also has to pay about £200,000 a month just to service its debts.

The company’s owners, brothers Ajmail and Sudarghara Dusanj, have vowed to continue fighting to save the company, which employs 1,000 people at its Stanhope Street brewery.