Online retailer Liquor Loot has entered voluntary administration, appointing Andrew Spring of Jirsch Sutherland as administrator to oversee an economic restructure.
Liquor Loot CEO Joel Hauer told National Liquor News that the current economic environment is the main factor that led the company to enter voluntary administration.
Retail has slumped, particularly in niche and higher-end discretionary products. Cost-of-living pressures have also impacted consumers spending habits, he said.
Other online liquor retailers have also suffered from this adverse economic climate over the past 12 months, including BoozeBud, which was acquired by Hairydog Group in May last year, and Gintonica, which was placed for sale in the same month.
Liquor Loot…
Read the full article at: https://theshout.com.au/national-liquor-news/liquor-loot-enters-voluntary-administration/