Hoxton Spirits launched its first products—Coconut and Grapefruit Gin, Pink Gin, and Banana Rum—in 2022. Founder Gerry Calabrese created the brand in 2021 to offer unique, fruit-forward spirits.
In 2022, the company secured seven-figure backing from Optiva Securities. The funding aimed to expand Hoxton’s range and drive international sales.
Ambitious £4 Million Fundraise Falls Short
Last year, Hoxton Spirits planned to raise £4 million ($5.4 million) through a share sale. That deal valued the business at £35.5 million ($48 million). However, weaker order volumes and higher-than-expected operating costs strained cash flow, the company disclosed to UK Companies House.
Hoxton asked existing investors for more capital and explored third-party loans. Both efforts failed to bridge the funding gap.
Staff Reductions Precede Administration
On March 31, 2025, Hoxton Spirits made staff positions redundant. Instead of entering full liquidation, the company placed its parent entity, Hoxton Spirits Holdings, and trading arm, Hoxton Spirits Operations, into administration. Administrators sought a buyer to maximize returns for investors.
Sale to Boutique Spirits Co Finalized
Administrators accepted an offer of £325,000 ($439,257) from Boutique Spirits Co for Hoxton’s assets. The sale, completed on April 30, transferred inventory, production equipment, and intangible assets.
Documents show that Hoxton Spirits Holdings received £87,500 ($118,250), while Hoxton Spirits Operations got £162,000 ($219,000). A further £70,000 ($94,600) may be paid after 18 months and will be split equally.
New Owner Incorporates Hoxton Newco
Boutique Spirits Co filed a document on April 11 to incorporate a private limited company named Hoxton Newco. By April 28, it had officially renamed this entity to Boutique Spirits Co, signaling its intent to continue the Hoxton brand under new ownership.
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