Black Hops Brewing, an acclaimed Australian brewery stocked in bottle shops across the country, has decided to enter voluntary administration due to escalating tax debts.
The move comes as a shockwave amid a surge of breweries facing similar financial strains, marking a significant setback for the company’s operations.
The gold coast Bulletin reported on Thursday that Black Hops Brewing informed its investors late on Wednesday about the appointment of Deloitte to oversee the company’s affairs following what it described as a “tough decision.”
The popular Gold Coast brewer stated: “This decision has not been easy to make, however, the path the ATO has taken with the business has left the company in a position where there was no alternative.”
Founded in 2015 by mates Dan Norris, Eddie Oldfield, and brewer Michael “Govs” McGovern, Black Hops Brewing swiftly gained recognition for its innovative brews, notably the Eggnog Stout.
Over the years, the company expanded its operations, moving from a modest 250sq m building to a sprawling 600sq m brewhouse and later to a super-sized brewery and tap house in Biggera Waters after an crowd-funding campaign that raised $400,000 from 545 investors.
Despite its success in…
