I am with TimW on this, I did enjoy my visits to their pubs in a number of cities, since I am a craft beer fan.
But yeah, they slowly lost their mojo. Unfortunately a very common story in the craft beer industry. Start up, offer a different product, become wildly popular, expand. Then eventually an investment group, large brewery, or a new owner with an MBA comes knocking with buckets of cash. I get it, I would probably sell too, but that is usually the beginning of the end. The new owners have to streamline, reduce costs, focus on a narrow line of product, soon what made the brewery in the first place, the culture, the aura, has disappeared. It is hard to be a corporate Punk. The craft beer industry thrives on novelty and innovation, the next new thing. Complicate that with the fact that alcohol is not a "growth" industry, just businesses fighting for a piece of a shrinking pie.
Co-Founder James Watt trying to buy back the Brewdog and says if he gets control back previous investors will get "free stock".
That is a positive sign, maybe he can put some steam back in the organization.
(Apologies, that was too tempting)