Gold Coast brewery, Black Hops, has entered administration for the second time, with an urgent sale campaign underway for the business.
Established in 2015, Black Hops has grown a passionate consumer base, being voted Australia’s Best Craft Brewery in 2020, and achieving consistent results in the annual GABS Hottest 100 Aussie Craft Beers poll.
Black Hops Brewing previously went into administration in March 2024, with David Ian Mansfield and Timothy Joseph Heenan of Deloitte appointed as joint administrators. The brand was saved from liquidation by a group of previous investors and supporters successfully buying the production site, equipment, assets, and intellectual property under a new company, Black Hops Craft Pty Ltd.
Following a sales agreement falling through, Black Hops Craft and operating entity, Green Hops Brewing, entered voluntary administration on 21 July.
Black Hops director, Luke McCormack, said the headwinds affecting the Australian independent brewing sector have never been stronger.
“Over the past few months, the business was well advanced in sales discussions, but regrettably these broke down at the 11th hour,” said McCormack.
“We now believe voluntary administration provides the best opportunity to preserve the business and maximise the prospects of a successful future and we will be assisting Worrells throughout this process. We also want to extend a heartfelt thank you to the Black Hops team and everyone who has supported the brewery during what has been a difficult period for Australian independent beer.”
Chris Cook and James Robba of Worrells have been appointed voluntary administrators, and the business will continue to operate as normal as the company’s financial position is assessed.
“The administration has only just commenced, and our immediate focus is to stabilise operations, understand the companies’ financial position and preserve value for creditors and stakeholders,” said Cook.
“At this stage, the business is continuing to trade as normal. We are working closely with the directors, senior management and key stakeholders while commencing a sale campaign for the business. Black Hops is a recognised brand with a loyal customer base and a passionate team. Our objective is to run an orderly process that gives interested parties the opportunity to acquire the business, while seeking to maximise the outcome for stakeholders.”
The companies’ assets – including all available plant and equipment, stock, intellectual property, brands, customer databases, digital and social media assets, leasehold interests, retention of existing staff and contracts – have been listed on Argus Auctions, inviting urgent expressions of interest to be submitted by 4 August.
According to the ASIC notice, the first meeting of creditors will be held on 29 July.
