BrewDog co-founder James Watt has announced plans to launch a new beer brand called Second Best, months after the craft brewery chain collapsed into administration.

BrewDog entered administration in March 2024, resulting in the closure of 38 bars and 484 job losses across the company's operations. The administration marked the end of what had been one of the UK's most prominent craft beer companies.

Watt's new venture comes with a promise to offer shares to investors who lost money through BrewDog's previous Equity for Punks crowdfunding scheme. The scheme had allowed members of the public to purchase stakes in the company before its collapse.

However, investors have expressed skepticism about Watt's pledge to distribute shares in the new brand to those affected by BrewDog's failure. The doubts reflect concerns about whether the commitment can be fulfilled and the practical mechanisms for such a distribution.

The launch of Second Best represents Watt's attempt to re-enter the brewing industry following the high-profile collapse of his previous company. BrewDog had grown from a small Scottish brewery into an international brand before its financial difficulties led to administration.