Monday, April 8 2024
After 35 years in craft brewing, Grand Ridge Brewery has made the decision to file for voluntary administration, appointing Richard Lawrence, and Mitchell Ball from Mackay Goodwin as administrators.
The decision to appoint administrators was taken as a result of financial pressures dating from the pandemic, along with rapidly rising costs and increasing taxes. It has become imperative to restructure the business via voluntary administration.
For the foreseeable future, it will be business as usual, brewing and selling beer and cider. The taphouse and restaurant will remain open. The company also hopes to retain as many staff as possible.
Founder and owner Eric Walters had the following to say:
“This decision was the most difficult in 35 years of operation. We believe there is no alternative than to file for voluntary administration. Ultimately, we hope to remain operational.
He continued: “It has been an amazing journey, helping build the craft beer revolution in Australia and seeing it flourish into what it is today, and adding to the quality choices for Aussie beer Consumers. I am very proud to have been part of this.
“I want to thank my incredible team who have worked tirelessly to make all the beers great and who have helped promote the brand throughout Australia, driving regional tourism and jobs for locals, and across the world more recently as we embarked on a major branding exercise,” he said.
He also said: “Thank you to all our loyal customers, suppliers and supporters, whose positive comments and feedback along the way have been fantastic.”
“Our industry, along with many others is currently finding business very challenging. We foresee a positive future in a restructured business and are eager to reset and move forward.”
Grand Ridge Brewery is fully committed to maintaining a high level of service and clear communication with all stakeholders during the restructuring process and onwards.
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