Reynier’s Waterford Whiskey sees losses rise to €840,000
Company does not expect to have revenues from the sale of its whiskey for its first five years of operation
The company behind the Waterford Whiskey distillery – which last month raised €21.5 million in new funding – saw its operating losses rise to €844,498 in 2016.
Renegade Spirits, which was founded by English whiskey expert Mark Reynier, raised €14.4 million in loans from Ulster Bank and the remainder from the British Business Growth Fund, partly in loans and partly in shares.
So far, according to Reynier, the company has spent almost £14 ...