HSBC is set to lose more than £17m following BrewDog’s collapse into administration earlier this year, as new documents reveal the scale of the shortfall facing creditors.

The bank was owed £31.2m by the craft beer business and is expected to recover just £14.5m, leaving it with a £16.8m shortfall, according to administrators AlixPartners.

HSBC Equipment Finance is also expected to lose around £523,000. It was owed £12.3m and is forecast to recover approximately £11.8m.

Meanwhile, HSBC Invoice Finance, which was owed £16.2m, is expected to recover its debt in full.

BrewDog entered administration in March before Tilray Brands acquired a selection of its assets for £33m through a pre-pack deal.

The transaction included BrewDog’s global brand and intellectual property, its UK brewing operations, ecommerce business and 11 pubs across the UK and Ireland.

However, liabilities incurred before the deal largely remained with the companies in administration rather than transferring to Tilray.

Former BrewDog employees are also expected to be left out of pocket, with administration documents showing around £489,000 is owed in unpaid wages and holiday pay.

HMRC, meanwhile, faces a £2.4m shortfall relating to unpaid VAT, PAYE and employee National Insurance contributions.

The administration resulted in 484 employees losing their jobs, while investors who backed BrewDog through its high-profile Equity for Punks crowdfunding scheme received no return from the sale.

The collapse marked a dramatic reversal for the Scottish brewer, which was founded by James Watt and Martin Dickie in 2007 and had previously achieved a valuation of around £1bn.

Tilray’s acquisition has kept BrewDog’s core beer business operating under new ownership, including brands such as Punk IPA, Hazy Jane, Wingman, Elvis Juice and Dead Pony Club.

At the time of the deal, Tilray said the acquired BrewDog assets were expected to generate around $200m in annual net revenue and between $6m and $8m in adjusted EBITDA in its 2027 financial year.

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