Hand & Heart GmbH has been investigating and reporting on corporate governance failures at BrewDog since 2022. Over that period, concerns have been raised — by us and by others — with BrewDog's board, its auditors, its investors, Companies House, HMRC, Action Fraud, Serious Fraud Office, Police Scotland, Kent Police, the Information Commissioner's Office, and the Financial Times, among others. These concerns covered alleged financial irregularities, connected-party transactions, whistleblower retaliation, data protection breaches, and failures of board oversight. The responses from regulatory bodies were, in the main, inadequate. The workers paying the price today deserved better from the company, from its directors, from its advisers, and from the regulators who were warned.