It's a tragic loss—Anchor Brewery and Anchor Steam Beer are gone! They definitely led the rise of Microbreweries in the 1980s and 1990s.
It was kind of a perfect storm: Companies that made much of their revenue from on-site sales saw that business dry up. In that situation, it was impossible not to lose money, and that created debt that many breweries simply could not pay back.
Increased debt impeded businesses' efforts to make changes. And lowered demand drove many regional favorites, including Chicago’s Metropolitan Brewing, New Jersey’s Flying Fish, Denver’s Joyride Brewing, Tampa’s Zydeco Brew Werks, and Cleveland’s Terrestrial Brewing, into bankruptcy.
Looks like mismanagement
In 2017, Sapporo Holdings Ltd., a Japanese beverage company, bought Anchor Brewing in San Francisco for $85 million. Sapporo said they wanted to expand their beer business in the U.S. market, but Anchor declined and Sapporo closed the brewery in July 2023 after 127 years in business.
There has to be more microbreweries suffering out there.