This Brand-New Whisky Distillery Was In Serious Trouble and No One Noticed

The Eden Mill Distillery in St Andrews only officially opened recently. Rumours had been swirling and now they’ve turned out to be true. Even before opening, the distillery had slipped into a financial crisis. It has now been rescued.

Even before the doors opened, Eden Mill was feeling the turbulence of the whisky market, with all the financial fallout that brings. In the run-up to launch, the distillery built up a debt burden that almost forced it to shut down again.

On 18 November, two administrators from Begbies Traynor were appointed to take control, it has emerged. Suddenly, 42 jobs were at risk, and there was a real chance that maturing spirit could be sold off for a song.

But the administrators’ tenure was shorter than anyone expected and led to an unexpected outcome.

The Scottish distillery was swiftly acquired by Ruby Capital, an investment firm. They took over both the company and all of the distillery’s assets. The purchase price has not been disclosed.

What is clear is that it’s enough to settle the debts, secure continuity, and keep operations running without the distillery having to shut its doors for good.

Tony Banks, founder of Ruby Capital, says he has confidence in the distillery’s future. He believes his investment is in good hands, even if the whisky market remains somewhat unsettled.

Banks also notes that there will be no changes to staffing or the distillery itself in the near term. For suppliers, too, nothing will change.

For now, Eden Mill’s focus is squarely on the future and on recovering from the difficult situation it faced. The opening of the visitor centre is seen as a key part of this fresh start. Whisky lovers will not only find a whisky experience, with a variety of tasting options there, but also an indoor golf course.