Brewbot avoids winding up order after agreeing deal with creditors
A Belfast beer-making technology firm has entered into an agreement to pay creditors after an attempt by the taxman to wind the business up.
Brewbot agreed a Company Voluntary Arrangement (CVA) after HMRC made a petition to close the business.
A Belfast court heard yesterday that the business had entered into the CVA and the move to wind up the company had been dismissed.
A CVA is an agreement with creditors that allows a company to pay back money owed over a period of time.
It also allows a business to continue trading.
Brewbot, whose sole director is Chris McClelland, is a technology firm that produces wood and stainless steel 'smart' beer-making machines and sells them around the world.
It formerly operated a bar, which was also where its head office was based, on the Ormeau Road in the south of the city.
The premises has been taken over by the Galway Bay Brewery, which will reopen the bar under the name the Northern Lights next week.
After a tough 12 months, Brewbot had to cut its staff down to only bar workers.
The company previously employed many more, including developers working on producing the Brewbot system itself.
However, It is understood they are now no longer with the company.
The business began its foray into the technology industry with a crowd-funding drive.
It raised more than £114,000 in just one month through Kickstarter.
The company secured £1m from a range of investors as part of a round of seed funding.
It also received £82,000 in funding from Invest NI.
Just a small number of Brewbots have been produced, with several having been made above the Ormeau Road bar.
A spokesperson for HMRC said: "We don't comment on identifiable companies."