B9 Beverages, the maker of the craft beer brand Bira 91, is going through a challenging phase. Founder Ankur Jain informed employees on Thursday that he has secured a buyer for one of the company’s assets, which will provide “immediate cash” to help clear pending salaries and provident fund dues.
Jain further told the publication that the company is exploring several measures to regain financial stability, including the sale of non-core assets. He added that the planned transaction would help settle outstanding obligations such as unpaid salaries from November 2024, arrears, reimbursements, and pending tax deductions for over 50 employees from the previous financial year.
Despite the urgency outlined by the company, some investors have voiced skepticism about the proposed sale, citing a lack of clarity on the buyer’s identity and whether a concrete offer or term sheet exists. In his letter, Jain outlined the expected impact of the sale, noting that it would “provide an immediate solution to several critical issues, including employee provident fund (PF) dues, payroll for the bottom 50% of employees (including former staff), and the revival of operations in key markets.”
B9 Beverages has faced a difficult few years, reporting a net loss of ₹748 crore in FY24, higher than its revenue of ₹638 crore, as sales volumes fell to around 6–7 million cases.
