Renfrew-based Spirit Label Solutions, a specialist in whisky and spirits bottle labelling, has been successfully rescued from administration, safeguarding 16 jobs. Founded in February 2023, the company sought to capitalise on the growing global demand for premium whisky labels. It launched operations at a £5 million, state-of-the-art facility near Glasgow Airport later that year. 

Despite its promising start, Spirit Label Solutions faced significant financial challenges by the end of 2023. A nearly 10% drop in Scotch whisky exports, coupled with rising operational costs and broader industry pressures, led to unsustainable cash flow issues. These difficulties prompted the company to appoint Michelle Elliot and Callum Carmichael of FRP Advisory as joint administrators on November 8, 2024.

Following an accelerated sales process, Spirit Labels Ltd, a new venture led by local entrepreneur Craig Hyslop, acquired the business for an undisclosed sum. The purchase included advanced digital laser printing equipment, intellectual property, and stock. All 16 employees have transitioned to the new company under TUPE regulations, ensuring job continuity. 

Michelle Elliot of FRP Advisory highlighted the company’s strong reputation for innovation within the Scottish whisky sector and expressed optimism about its future under new leadership. Craig Hyslop, the new owner, emphasised that substantial working capital had been injected into the business, placing it on firmer financial footing. Hyslop stated his commitment to fostering the company’s growth, supporting employees, and delivering exceptional service to its clientele.

The business had machines to handle any label within the spirits sector. This included high-end embellishments like multiple foils, screens, and embossing, aimed at developing a niche product in the premium beverage industry. Despite these technical advancements, Spirit Label Solutions struggled under the weight of rising operational costs and a global decline in the whisky industry. 

This acquisition underscores the dual challenges and opportunities facing the Scotch whisky industry. While declining exports and rising costs have pressured many businesses, Spirit Labels’ rescue highlights the resilience of local entrepreneurship in preserving skilled jobs and sustaining industry expertise. The company’s transition to new ownership marks a fresh chapter in its efforts to thrive in the competitive premium whisky market​.