Iconic Australian company Billson’s has announced that it has entered voluntary administration. The company, which has been in business for over 150 years, produces various beverages such as beer, vodka, and cordial.
Nathan and Felicity Cowan, the company’s co-founders, said that they made the difficult decision to enter into administration.
In a statement, the founders of Billson’s said that they are proud of what the company has been able to achieve over the years.
They thanked all of its employees for their hard work and said that they were overwhelmed by the support they received from the people of Australia.
The company’s growth masked various errors that it made throughout its journey.
The co-founders said that they are deeply sorry for the mistakes they made and are committed to fixing the issues that affected the company.
Billson’s was established in 1865 and was one of the oldest breweries in Australia. In 2017, the couple took over the company and initially employed 200 workers.
This year, they made around 100 layoffs.
The decision to enter into administration has been a difficult one for the company and its employees.
They said that they tried to avoid the situation by restructuring the company twice.
However, they believe that this is the best option for the company’s survival.
The difficulties the company has faced in 2024 have been incomprehensible in scale.
The co-founders of Billson’s stated that they will do everything in their power to ensure that the business can continue to operate successfully.
This news has been regarded as the 20th instance of an independent brewery going out of business in a year.
The Independent Brewer’s Association (IBA) is worried that the increasing beer excise may negatively affect the operations of other small and medium-sized breweries.
In a statement, the organization said that it is working with Billson’s to support the company and its employees during this difficult time.
It also thanked Beechworth for its brewing culture.
Matthew Hutton and Rob Smith from McGrathNicol have been named as the administrators of Billson’s Beverages.
The company’s ready-to-drink products are sold in various chains such as BWS and Dan Murphy’s.