After 35 years of craft brewing, Victorian-based Grand Ridge Brewery has filed for voluntary administration, appointing Mackay Goodwin as administrators. The brewer said the decision followed mounting financial pressures and rising costs and taxes.
Grand Ridge said it had become imperative to restructure the business via voluntary administration. For the foreseeable future, it will be business as usual, brewing and selling beer and cider. The taphouse and restaurant will remain open, and the company also hopes to retain as many staff as possible.
Founder and owner Eric Walters had the following to said that ultimately, the brewer hoped to remain operational.
“This decision was the most difficult in 35 years of operation. We believe there is no alternative than to file for voluntary administration. Our team has worked tirelessly to make all the beers great, promoting the brand throughout Australia, driving regional tourism and jobs for locals.
“Our industry, along with many others, is currently finding business very challenging. We foresee a positive future in a restructured business and are eager to reset and move forward,” said Walters.
Grand Ridge Brewery said it is fully committed to maintaining a high level of service and clear communication with its stakeholders during the restructuring process and onwards.
Grant Ridge is the latest in a growing number of craft breweries going under in the last year or so.
