BrewDog has announced its remaining Aberdeen bars have shut amid 38 closures across the UK and almost 500 redundancies - although jobs at its Ellon sites are safe.
It comes as US drinks and medical cannabis company Tilray completed the purchase of the struggling craft beer giant for £33million.
The deal includes BrewDog's operations, the brand, and just 11 pubs, with all its other UK bars closing with immediate effect - including venues at Castlegate, Union Square and Inverurie.
While the slew of closures creates 484 redundancies, but the BBC reports administrators say the sale has saved 733 roles - including at BrewDog’s Ellon brewery and DogTap bar, along with The Hop Hub, a national distribution centre in Motherwell.
Administrators also confirmed fears that no BrewDog equity holders, including those who invested in the popular Equity for Punks scheme, will see any return.
Internationally, BrewDog and Tilray are still in talks over a deal for the Scottish company's assets in the US and Australia.
Its assets in Germany, however, where it has a brewery and bar in Berlin, are to be liquidated.
Unite, a union representing hospitality workers, described the news as "devastating" and vowed to fight for "legal and financial justice" for its members, the BBC reports.
General secretary Sharon Graham said BrewDog workers had been treated like "disposable pawns", while Bryan Simpson, national lead for hospitality, said staff had been told they had lost their jobs via a conference call with just 25 minutes notice, branding it "deplorable".
In a statement, Irwin D. Simon, Chairman and Chief Executive Officer, Tilray Brands, stated: “BrewDog is one of the most iconic, mission-driven craft beer brands in the UK. It helped redefine modern craft beer through bold innovation, fearless creativity and an unwavering commitment to great beer.
"What makes BrewDog truly special has always been its brewers, its brewpubs and its passionate community of beer fans. As we begin a new chapter for this great brand, our priority is to refocus BrewDog on the craft beer excellence that made it beloved in the first place and strategically invest to return the operations to profitable growth.
"BrewDog’s future is bright, and we are committed to ensuring the brand continues to lead and inspire the global craft beer movement.”
Mr. Simon continued: “Tilray’s management brings operational and strategic expertise, a diversified global beverage infrastructure and a disciplined investment approach needed to unlock BrewDog’s next phase of growth.
"In addition, my team and I have significant experience in the UK market where we previously built an ~ $1.5billion consumer packaged goods business at my prior company with beloved brands, including Ella’s Kitchen, Hartleys, Tilda, New Covent Garden and Linda McCartney.
"With the BrewDog acquisition, our total global beverage platform is expected to grow to ~$500million in annual revenue, creating one of the largest diversified craft beverage platforms globally. Through this expanded platform, we see significant growth opportunity for BrewDog through broader distribution and the ability to invest back into brand and innovation, while introducing Tilray’s complementary beverage brands into international markets.
"On a combined basis, we expect Tilray’s diversified global business to reach ~$1.2billion in annualised revenue.”