Fortune Favours Brewery Closure – Reasons Timeline Impact
Fortune Favours, one of Wellington’s most recognizable craft breweries, has shut down its Leeds Street venue, marking the end of an era for New Zealand’s independent brewing scene. The brewery, which called time on operations on August 31, 2024, blamed the decision on what owners described as an unsustainable financial situation driven by the cost-of-living crisis.
The closure followed a dramatic decline in revenue, with the brewery experiencing a 45 percent drop over two consecutive years. Despite winning top honours at Beervana just weeks before announcing the shutdown, the business proved unable to weather the broader economic pressures affecting Wellington’s hospitality sector.
Co-owners Shannon Thorpe and Dale Cooper emphasized that the decision was made to ensure a graceful exit and avoid leaving unpaid bills. The Leeds Street venue has since been taken over by Garage Project, which hired the existing staff members, preserving jobs at the location.
Key Facts About the Fortune Favours Closure
Four essential facts about the closure that capture what happened, when it occurred, and where responsibility lies.
August 2024 (Wednesday before closure)
August 31, 2024 (Sunday)
Leeds Street, Wellington
Cost-of-living crisis impact
- Revenue fell 45 percent across two consecutive years of trading
- The brewery had brewed more than 500 unique beers since 2016
- Garage Project acquired the venue and retained all existing staff
- Co-owner Dale Cooper secured a role with Masterton Licensing Trust
- Wellington saw 177 hospitality business closures in the year to June 2024
- The closure reflects broader challenges facing New Zealand’s craft beer sector
| Fact | Details |
|---|---|
| Founded | 2016 in Wellington |
| Venue Location | Leeds Street, Wellington |
| Owners | Shannon Thorpe and Dale Cooper |
| Revenue Decline | 45 percent over two years (20% in 2024, 25% in 2023) |
| Notable Achievement | Top prize at Beervana August 2024 with Wairarapa IPA |
| Venue Successor | Garage Project (took over and hired staff) |
| Industry Context | 177 hospitality businesses closed in Wellington (year to June 2024) |
Why Fortune Favours Closed Its Doors
The decision to close Fortune Favours came after sustained financial pressure that the owners described as impossible to overcome. Thorpe and Cooper pointed directly to the cost-of-living crisis as the driving force behind the closure, rejecting suggestions that other factors such as changes in distribution arrangements had played a significant role.
The brewery had lost taps through Kāpura’s sale to DB Breweries’ Star Hospitality in 2023, and its Coca-Cola distribution arrangement also ended that year. However, the owners maintained that these changes did not cause the closure, instead emphasizing that customer spending patterns had shifted dramatically as consumers tightened their belts.
Revenue figures tell a stark story. After dropping 25 percent in 2023 compared to the previous year, the business experienced a further 20 percent decline in 2024, bringing the total two-year fall to 45 percent. These numbers proved unsustainable for a venue that depended on foot traffic and regular patronage.
A liquidator later reviewed the company’s affairs and identified three specific reasons for the closure, though the precise details of these findings have not been publicly specified. The broader context included Wellington-specific economic pressures, with public sector cuts, redundancies, and parking losses contributing to reduced downtown activity.
According to the owners, the closure was not linked to the 2023 loss of taps following Kāpura’s sale to DB Breweries’ Star Hospitality, nor to the ending of Coca-Cola distribution arrangements. The cost-of-living crisis was cited as the primary factor.
The Broader Wellington Hospitality Landscape
Fortune Favours’ closure did not occur in isolation. Wellington’s hospitality sector experienced significant turbulence throughout 2024, with the capital recording 177 business closures in the year to June. This represented a 2.3 percent decline, more than double the national average of 0.9 percent for the same period.
Public sector job cuts and reduced parking availability compounded the difficulties faced by city centre venues. These factors combined to drive away the regular foot traffic that brewpub businesses typically depend upon. Several other craft breweries across New Zealand, including Brothers Beer, Deep Creek, Epic Brewing, and Boneface, also encountered difficulties during this period.
The owners had previously called for excise freezes to help ease pressure on small breweries, though they acknowledged such measures would come too late to save their own business. Industry advocates continued to push for policy interventions as the sector faced mounting challenges.
What Happened to Staff and the Venue
One positive outcome from the closure was the preservation of jobs at the Leeds Street location. Garage Project, another well-known Wellington craft brewery, acquired the venue and brought Fortune Favours’ employees into their team. This arrangement meant that workers did not lose their positions despite the change in ownership and branding.
Co-owner and brewer Dale Cooper secured employment with Masterton Licensing Trust, taking on a role at their nano-brewery operation. Cooper had been instrumental in developing many of Fortune Favours’ signature beers during his tenure. His co-owner, Shannon Thorpe, focused on managing the wind-down process to ensure a graceful exit for the business.
The brand itself may continue in limited form through contract brewing arrangements. Reports indicated that Liberty in Helensville could potentially produce certain Fortune Favours beers, allowing some continuity for the label even after the Wellington venue ceased operations.
Garage Project hired all existing Fortune Favours staff, while co-owner Dale Cooper moved to Masterton Licensing Trust. Shannon Thorpe handled the wind-down process. The venue continues operating under new ownership.
The Venue’s Future
The Leeds Street location did not remain vacant for long. Garage Project’s acquisition meant the space continues serving craft beer to Wellington’s drinkers, just under different branding. The transition represented a pragmatic outcome in difficult circumstances, ensuring the venue remained part of the local beer scene.
For the broader craft beer community, the transition highlighted how larger operators can absorb smaller venues during downturns. While Fortune Favours as an independent entity disappeared, its physical space found new purpose through another passionate local brewer.
Timeline of Events
Understanding when key events occurred helps put the closure in perspective. The following timeline captures the major milestones in Fortune Favours’ history and the events leading to its final day of trading.
- 2016: Fortune Favours founded in Wellington, beginning production of craft beers and eventually brewing more than 500 unique varieties, including New Zealand’s strongest beer at the time.
- 2023: Ownership changes occurred alongside distribution shifts. The business lost taps via Kāpura’s sale to DB Breweries’ Star Hospitality, and Coca-Cola distribution arrangements also ended. Revenue dropped 25 percent compared to the previous year.
- August 2024: Fortune Favours won top prize at Beervana with its Wairarapa IPA. Owners announced the closure on Wednesday, with the final day of trading set for Sunday, August 31, 2024.
- August 31, 2024: The Leeds Street venue closed its doors for the final time, ending eight years of operation.
- Post-closure: Garage Project took over the venue and hired existing staff. Dale Cooper joined Masterton Licensing Trust as a nano-brewery brewer. A liquidator was appointed to handle outstanding affairs.
What We Know and What Remains Unclear
While substantial information exists about Fortune Favours’ closure, some details remain less certain. The following comparison helps distinguish between established facts and areas where information is limited or unavailable.
| Established Information | Information That Remains Unclear |
|---|---|
| Closure date of August 31, 2024 | Specific details from the liquidator’s report identifying three reasons |
| Revenue decline of 45 percent over two years | Whether contract brewing arrangements with Liberty have proceeded |
| Cost-of-living crisis cited as primary cause by owners | Specific financial amounts owed to creditors |
| Garage Project took over venue and hired staff | Whether any intellectual property or recipes were transferred |
| Dale Cooper’s move to Masterton Licensing Trust | Long-term plans for the Fortune Favours brand |
Context: Challenges Facing New Zealand’s Craft Beer Industry
Fortune Favours’ closure reflects a wider pattern affecting New Zealand’s craft brewing sector. The combination of rising costs, changing consumer behaviour, and increasing competition has created difficult conditions for independent breweries operating without the resources of major brewing corporations.
Several other craft breweries encountered difficulties during the same period. Brothers Beer, Deep Creek, Epic Brewing, and Boneface all faced challenges that drew attention to the pressures confronting smaller operators. The closure of Fortune Favours, a venue that had won industry recognition just weeks earlier, served as a particularly stark example of how success does not guarantee survival.
Industry advocates pointed to the burden of excise taxes as one factor affecting craft breweries’ viability. Calls for excise freezes had been made by brewery owners, though these interventions came too late for businesses already struggling with accumulated losses. The broader economic environment, particularly in Wellington where public sector employment and spending play significant roles in the local economy, added additional complexity.
For those considering Jobs in Nelson NZ or similar opportunities, the brewing industry illustrates how economic conditions can rapidly shift even successful businesses. The sector’s challenges extend beyond individual venues to encompass supply chains, distribution networks, and the broader hospitality ecosystem.
The Fortune Favours closure forms part of a broader pattern affecting New Zealand craft breweries. Wellington alone saw 177 hospitality businesses close in the year to June 2024, representing a 2.3 percent decline compared to the national average of 0.9 percent.
Official Statements and Source Material
Multiple news outlets reported on the Fortune Favours closure, providing overlapping but occasionally inconsistent details. The following sources form the foundation of the factual account presented here.
“The cost-of-living crisis has hit everyone hard, and our revenue dropped 45 percent over two years.”
— Shannon Thorpe and Dale Cooper, co-owners of Fortune Favours
“We wanted to exit gracefully and not leave people out of pocket.”
— Shannon Thorpe, co-owner of Fortune Favours
- Newstalk ZB – Popular Wellington brewery and pub Fortune Favours closing down
- Hoppiness – Fortune Favours shuts its doors
- Hoppiness Substack – Fortune Favours: The inside story
- ODT – Wellington brew bar closing blames cost of living crisis
- NZ Herald – Why popular Wellington pub Fortune Favours closed and who is owed money
Notable by their absence from direct coverage were Stuff.co.nz, RNZ, and the Brewers Guild, who did not publish dedicated reports on the closure according to available search results.
Summary and Lasting Impact
The closure of Fortune Favours marks a significant moment for Wellington’s craft beer community. What began in 2016 as an ambitious venture brewing more than 500 unique beers, including New Zealand’s strongest at the time, ended eight years later under the weight of economic pressures that proved insurmountable despite industry recognition and community support.
The decision to ensure a graceful exit rather than leave unpaid bills reflected the values the owners brought to their business. While the independent brand may continue through potential contract arrangements, the Wellington venue now operates under Garage Project’s banner. Staff found new employment at the same location, providing some measure of stability amid the transition.
The broader lessons extend beyond one venue’s fate. Fortune Favours’ experience illustrates how economic conditions can threaten even well-regarded businesses, and how broader trends in public sector employment, consumer spending, and industry structure combine to reshape local scenes. For Wellington’s hospitality sector, the closure represents both a loss and a reminder of the challenges requiring attention. The Burger King Lower Hutt situation and similar business decisions in the region reflect these same economic pressures affecting commercial operations across the Wellington area.
Frequently Asked Questions
When did Fortune Favours officially close?
The brewery closed its Leeds Street venue on August 31, 2024, a Sunday, following an announcement made the previous Wednesday.
What was the main reason for the closure?
The owners cited the cost-of-living crisis as the primary factor, with revenue declining 45 percent over two consecutive years before the shutdown.
Was the closure linked to the Kāpura sale or distribution changes?
According to the owners, no. They explicitly rejected suggestions that the 2023 loss of taps via Kāpura’s sale to DB Breweries’ Star Hospitality or the ending of Coca-Cola distribution caused the closure.
What happened to the venue and staff?
Garage Project took over the Leeds Street venue and hired all existing Fortune Favours staff, preserving jobs at the location.
Where did the co-owners go after the closure?
Co-owner Dale Cooper joined Masterton Licensing Trust as a nano-brewery brewer. Shannon Thorpe focused on managing the wind-down process.
Will Fortune Favours beers still be available?
The brand may persist through contract brewing arrangements, with Liberty in Helensville potentially producing certain beers. Details remain unclear.
How many unique beers did Fortune Favours produce?
The brewery brewed more than 500 unique beers since its founding in 2016, including New Zealand’s strongest beer at the time.
What was the final achievement before closure?
Fortune Favours won top prize at Beervana in August 2024 with its Wairarapa IPA, just weeks before announcing the closure.
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