Sydney-based Wayward Brewing Co. and its co-owned distribution business Local Drinks Collective have entered into voluntary administration, seeking financial restructuring to cope with adverse economic conditions facing the craft beer industry.
Local Drinks Collective is jointly operated with Batch Brewing Co, although Batch is not involved in the administration process.
DBA Reconstruction & Advisory has been appointed as the administrator, to assist with a restructure of the combined business. Despite the administrator appointment, ongoing production, distribution and taproom operations will continue as usual.
Peter Philip, founder and sole director of Wayward and Local Drinks Collective, said that the decision to enter administration w…
Read the full article at: https://www.beerandbrewer.com/industry-pressures-push-wayward-into-voluntary-administration/