San Diego-based Modern Times will close four satellite locations by the end of the week citing ongoing financial issues.
“We wish that there were another way to resolve the financial issues we now face, but we have been put in a position – by the pandemic and global declines in the craft beer industry – from which this tremendously difficult path is the only way forward for us,” Modern Times stated in a blog post.
As of the end of this week, we will be closing our Portland, Oakland, Santa Barbara, and Los Angeles locations. It is a surreal and painful turn of events for us and everyone affected. https://t.co/2DzQcMftLp pic.twitter.com/eg5uO6Rg7s
— Modern Times Beer (@ModernTimesBeer) February 14, 2022
After new leadership stepped in over the past few weeks, the financial state of the company is unsustainable. Per the brewery, “We’ve arrived at this current moment as the result of a combination of factors: four straight years of rapid, costly expansion followed by an unforeseen and financially devastating global health crisis, and an industry-wide decline in sales. Taken together, these factors have stretched our finances and company culture to a point that is simply no longer sustainable.”
This means closing Modern Times Portland, Oakland, Santa Barbara, and Los Angeles locations by February 19th. The Point Loma, North Park, Encinitas, and Anaheim locations will remain open.
Smaller, Smarter, Faster.
That’s Modern Times Beer’s approaching in their own words going forward. No more building and expanding what the brewery can’t afford. Distribution will be focused again on Southern California and the southwest. An east coast distribution will wind down immediately.
To read the brewery’s full letter, click here.
Modern Times Monster’s Park Blueberry Cobbler
Image: Modern Times
Creature Comforts Modern Comforts will be re-released on Friday, August 24th.
This imperial India pale ale is a collaboration with California based Modern Times. Creature Comforts Modern Comforts is brewed with Citra and Mosaic hops.
16-ounce cans of Modern Comforts will be available at 3 pm.
Style: Imperial IPA
Hops: Citra, Mosaic.
Availability: 16oz Cans
Latest Return: 8/24/18
Modern Times Citadel IPA has debuted in California this week.
The brewery touts this beer as a “union of two beloved schools of dankness”. The hop heavy India pale ale features Simcoe, Centennial, Nugget, Citra hops, as well as Denali and Eureka hop oils.
It’s two worlds colliding in the tastiest way possible, with a slightly hazy, beautiful hop character and a bright, clean finish.
Modern Times Citadel IPA is available in 22-ounce bottles and draft at the brewery’s Lomaland Fermentorium now, and Downtown Los Angeles and Portland locations in the very near future.
Hops: Simcoe, Centennial, Nugget, Citra
Hop Oil: Denali, Eureka
Malts: 2-Row Barley, Wheat, Golden Oats
Availability: 22oz Bottles, Draft.
Debut: Early June 2018
Image: Modern Times
San Diego, California based Modern Times Beer is expanding to Santa Barbara this year. The brewery is building a 5,000 square foot tap room and restaurant in the downtown area.
The Modern Times Academy of Recreational Science is what the new space will be called. The new space boasts a 2,500 square foot outdoor area alongside indoor seating and bar area, with “brain-bending art installations” and “weird design features”.
“This forthcoming palace of sensory delights will feature a full menu of the highest quality noms ever nommed, as well as a dazzling array of delicious beers from all of our brewery locations.”
The Modern Times Academy of Recreational Science is expected to open by the end of 2018, on South State Street in downtown Santa Barbara. This will be the 5th location for the brewery, alongside San Diego’s Point Loma, and North Park, The Dankness Dojo in L.A., and the Belmont Fermentorium in Portland, Oregon.
San Diego based Modern Times is now employee owned, a first for California breweries.
Recently employees repurchased 30% of shares from out of state investors, achieving at least a partial employee ownership status. The brewery plans on being 100% employee-owned in the near future. It only took Modern Times four years to be able to repurchase those shares.
What this means for you is that we now have a staff full of brewery-owners investing their various talents & abilities in a company they’re meaningfully and directly responsible for. Essentially, you should probably prepare to be even more dazzled than usual with what’s about to emerge from our brewhouse, coffee program, and upcoming new locations. This is a seriously massive step for us, and we cannot wait to share the resulting radness with all of you.
The brewery as a whole touts a list of employee incentives already, including health care, competitive salaries, two-month paid sabbatical after 5 years, unlimited paid time-off, and a take home wage of $15 dollars an hour (plus lots of free beer and coffee).
The Modern Times employee stock ownership plan was facilitated by Ambrose Advisors. Neil Brozen of Ventura ESOP Fiduciary Services has been retained as the Trustee.
The future holds not only sustainable ownership structure, according to CEO and founder Jacob McKean, but new growth and efficiency improvements, new beers, and an expanded company direction.
This new IPA is packed with all the juicy hops you love, including Citra, Mosaic, Southern Passion, and new Experimental 9326 hops. Lovers of haze, take note.
…it’s a bewitching confluence of tropical, citrus, & stone fruit flavors and aromas that will make you extremely glad that it came in a 4-pack.
Modern Times Effective Dreams will go on sale on Brown Paper Tickets March 20th. The brewery will email a link for purchase the day of.
Hops: Citra, Mosaic, Southern Passion, Experimental 9326
Yeast: London III
Availability: 16oz Cans