Founded in 2014 by East London bartender, Alex Wolpert, East London Liquor Company partnered with Mangrove Global in November 2022 to increase its reach in both the on and off trade in the UK.
Wolpert released a statement on LinkedIn explaining how the “new terms set out by HMRC have not only come completely out of the blue, but they are simply untenable and unviable for us as an independent business to pay while also continuing to raise funds to further existing growth.
“With HMRC’s recent and unreasonable demands, our business can no longer operate in its current form”, Wolpert continued.
Attempts to renegotiate with HMRC were refused and “in taking on such drastic measures to counter HMRC’s demands, I have been extremely fortunate to have some incredibly supportive partners who have enabled us to buy the business out of administration so that I can continue as founder to steer East London to its next stage”, explained Wolpert.
The announcement however “leaves shareholders in a position that we never planned to reach and have done all we can to avoid. I have personally reached out to all shareholders, who have a direct line of communication with me”, Wolpert continued.
ELLC was created to “do what I didn’t see the portfolio brands of our world do. Offer decent booze, without the frills and fuss that so many of the big brands use to drive an overinflated and underwhelming competitor set”, said Wolpert.
“The paperwork has now been filed and we continue to operate the business with the same hard graft we always have.
“We are the same distillery and brand we have always been, but we’ve had to make uncomfortable choices in order to survive in the current climate,” the statement continued.
