Tilray, which bought BrewDog out of administration in March, is asking customers to give the struggling brewer another chance as it invests more than £50m in the business. Chief executive Irwin Simon says the company plans to improve beer quality, raise standards for staff and rebuild the brand’s reputation after years of losses and controversy over working conditions.

Tilray paid £33m for BrewDog’s brand, UK breweries and 11 bars; 38 other bars closed and 440 people lost their jobs, while more than 200,000 crowdfunding investors lost the value of their shares. Five closed bars have since reopened, and Tilray says it has increased pay and discarded more than £1m of beer that failed to meet standards. Simon says BrewDog’s annual sales could grow from about £225m to £350m and that it could become profitable, though creditors owed about £190m will not be repaid in full.