Bruges (Brussels Morning Newspaper): Franky De Smet-Van Damme’s Turbeau Rock Brewing Company, known for its popular beer Turbeau Noir, filed for bankruptcy after raising €125,000 through crowdlending. Financial problems from a foreign defaulter worried investors. De Smet-Van Damme is disappointed but hopes for a fresh start.
Six years ago, Franky De Smet-Van Damme, the lead singer of Channel Zero, started Turbeau Rock Brewing Company with Brewery Strubbe. Their first beer, Turbeau Noir, a dark brew inspired by his music, was a hit. The brewery added three more beers, becoming popular in Belgium’s craft beer scene. To grow, Franky ran a crowdlending campaign, raising 125,000 euros from 50 supporters. They planned to pay back with interest over 4 to 5 years, securing the brewery’s future.
What led to the Bankruptcy of Turbeau Rock Brewing company in Bruges?
Turbeau Rock Brewing Company, once seen as a promising venture, has filed for bankruptcy, leaving many investors anxious about their financial contributions. While the exact reasons for this downturn are not fully understood, it raises concerns for those who had faith in the brewery’s potential. This situation is a significant setback for Franky De Smet-Van Damme, who aimed to expand his success beyond music, as well as for the loyal supporters who invested in the brand.
De Smet-Van Damme feels very disappointed about what happened. He worked hard for six years on the brewery and had a good plan. He says a problem with a foreign defaulter caused the trouble. He thought about taking legal action, but it was too expensive to do from another country. He believes he did nothing wrong and is waiting for the curator to figure things out. De Smet-Van Damme is hopeful that this isn’t the end for Turbeau and that there might be a chance to start over.
