Sydneys Akasha Brewing Company has become the latest craft brewer to enter into voluntary administration, with the directors appointing Henry McKenna of Vincents as administrator on Wednesday.
The directors of Akasha have made the decision to enter administration to deal with financial losses due to declining consumer demand amid a climate of rising production costs and excise tax. They remain confident that the financial restructure will result in a more resilient business following the administration period.
Founder and CEO, Dave Padden, said he is proud of the efforts of the Akasha team during this difficult economic period.
Our entire team have worked hard building a highly successful and respected brewery over the last nine years; h…
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