Thursday, August 04, 2011

More News From Freetail

More news from Freetail, sent to me while I was on vacation:
(July 27, 2011) San Antonio, TX – Having previously announced expansion into the Houston market, Freetail Brewing Co. will announce the indefinite suspension of plans for a second location — citing concerns over access to capital.

“As I moved forward with the Freetail Houston project, I began to run into an increasing level of resistance in capital markets. A brewpub is a good project for downtown Houston, but the deal is simply not there for me at this time,” explained Freetail Founder & CEO, Scott Metzger. “When we announced the project on May 17, we also stated there were financial considerations to be addressed. Those considerations are ultimately what put this project on hold indefinitely, and no other reason. To move forward with the project at this time would be irresponsible and an injustice to my company and the City of Houston.

“For now my focus will be to continue growing our successful original location, which has internal expansion needs of its own, and moving forward in the battle for fair reform of the Texas Alcoholic Beverage Code, as it relates to the activities of our state’s brewpubs and breweries,” added Metzger.

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