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From a £1bn dream to a brutal collapse: How Brewdog hit the rocks

Brewdog’s success was built on developing a loyal following who loved the company’s irreverent take on a craft beer industry thought to be tired and stuffy.

“They shook up an industry that needed shaking up. There’s no doubt about that, and I will always give them credit for that,” said beer writer Melissa Cole.

Driven by Watt’s marketing genius, the fledgling company pulled stunt after attention-seeking stunt, each crazier than the last, and they were rarely out of the news.

The self-proclaimed Captain of Brewdog, Watt regularly attacked the “bland and insipid” big beer companies like Heineken.

He and Dickie even filmed themselves sending bottles of Heineken into the air attached to exploding rockets.

Warning: This article contains language that some readers may find offensive

From driving a tank down Camden High Street, to throwing stuffed “fat cats” from a helicopter over London’s financial district, to creating the world’s strongest beer and sticking it inside a taxidermied squirrel – there appeared to be no limits to Brewdog’s punk revolution.

But this revolution needed an army – of investors. In 2009, Equity For Punks (EFP) was born. Fans were encouraged to invest in the company in return for shares, as well as benefits like beer discounts.

Over the next 12 years, in a series of EFP fundraisers, about 200,000 investors would bolster the firm’s finances by more than £100m.

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