Echoes parent company goes into administration with £2m debt

Phantom Brewing Company who operated Echoes bar in Gardiner Place has entered liquidation last week after closing the bar in December.

Accounts filed by the administrators has revealed huge debts of £2.289m owed to various creditors.

David Rubin and David Birne, of insolvency firm Begbies Traynor, were appointed as joint liquidators on December 23.

The company posted on Instagram: “As many of you know, we had already been planning the next chapter for Phantom, including a relocation to a new production facility. We will now be focusing on this as a priority.With that in mind, we’ll be entering an extended shutdown this winter whilst we finalise this transition and prepare for a future relaunch from a new home. As we will be unable to continue production during this time, we will be closing our taproom in Reading and Echoes, as well as pausing all trade sales until further notice. The business will also undergo a period of restructuring to ensure the appropriate foundations are in place for the next phase. This will take us a little longer than our usual Christmas break. We’ll share updates as plans are confirmed and look forward to welcoming you back in the new year.”

Echoes opened in October 2023 and was the company’s first venture outside of the brewery industry.

Stable 34 on Hart Street also closed their doors in December after opening 4 years ago December 2021.