Ex-workers and certain creditors of BrewDog’s collapsed retail division are expected to receive no money following its administration.
A progress report from administrators AlixPartners confirmed there were "insufficient funds" available to pay out those owed cash after the firm collapsed.
Earlier this year, American drinks company Tilray bought the BrewDog brand, intellectual property, UK breweries and 11 bars in a rescue deal worth roughly £33 million.
The insolvency process forced BrewDog to close 36 venues, affecting nearly 500 staff, before the business was bought by its new owners.
The takeover deal also rendered the shares of about 200,000 crowdfunding investors to be worthless.
The administrators’ report into Brewdog PLC and its retail arm says around £489,000 is owed in terms of retail employee wages arrears and accrued holiday pay.
A further £2.4 million is owed to HMRC for unpaid VAT.
The report says there are now “insufficient funds available” to allow for a distribution to these “preferential creditors”.
This is due to a “reduced level of realisations” for the retail business and increased costs during the administration period.
The report said that those made redundant were provided with information on government support.
Brewdog PLC also owes around £190 million to unsecured creditors.
They are expected to receive less than a penny in the pound of what they are owed, according to the report.
Brewdog’s new owners Tilray have been approached for comment.
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