Irish whiskey has taken millions in recent years from investors. With an industry slowdown in full swing, many are starting to panic. Despite the pain, distillery owners believe opportunity abounds
Irish whiskey faces changing times, especially in the US market. Stock image: Getty
Investors in Irish whiskey distilleries are panicking as the global slowdown in alcohol continues to hammer the industry, with some of the most promising producers recently shutting up shop. However, despite investor worries, distillery owners remain upbeat that the sector will recover as it looks to secure a zero-for-zero tariff on spirits with the US.
Millions have been piled into Ireland’s new distilleries in recent years by investors, foreign funds and banks in the belief that whiskey would never depreciate and, buoyed by US demand, was effectively liquid gold.