The company’s co-founder James Watt issued a statement on Wednesday where he apologised to staff and investors and admitted he made “many mistakes”.
He said he was “heartbroken” for those who had lost their jobs and put money into the Equity For Punks scheme.
At the height of its success Brewdog, which was founded in 2007, was said to be worth more than $1bn.
However, the company suffered years of bad headlines, which included staff complaints about workplace culture and allegations of inappropriate behaviour.
Watt stood down as CEO in 2024 and co-founder Martin Dickie left the company just over a year later.
“During my 17 years in charge there were highs, lows, successes, failures, huge gambles and many mistakes along the way,” Watt said.
“Ultimately, the mistakes hurt far more than the successes console.”