Local craft brewer saved from collapse
Adelaide craft brewer Big Shed Brewing has restructured its debts and will remain afloat after falling into voluntary administration earlier this year.
Big Shed Brewing co-founders Jason Harris and Craig Basford. Photo: John Krüger
Announced via social media, the Royal Park microbrewery yesterday thanked its suppliers for “unanimously agreeing to our proposal and the restructuring of our debts”.
It means the company can continue brewing its unique beers after the company appointed voluntary administrators Mark Lieberenz and Anthony Phillips of restructuring firm Heard Phillips Lieberenz in February.
On Facebook, the co-owners said “on February 12 it felt like the floor had fallen out of our lives”.
“We made the toughest decision we’ve had to make which was to go into VA. We knew then that the fate of the company was no longer in our hands,” the co-owners said.
“It was going to be up to the Administrators and our creditors to decide what happened next. We cannot stress enough how hard it is to see everything you’ve worked for placed into the hands of others, but we had no other choice.
“To try and continue would have seen us fall for good, so while it wasn’t an easy decision, it was the right one.”
They acknowledged the agreement with suppliers “hurts them too, but it is still a better option than the alternative”.
“We will do what we can to make it up to them over the journey moving forward,” the Facebook post reads.
After falling into administration, the company continued trading as normal. At the time, Big Shed co-founder Craig Basford said the business struggled to recover from the economic fallout of COVID-19.
Big Shed then called on its fans to support the business, and on Facebook yesterday the co-owners said “the response from the public, our wholesale partners, and suppliers since then has been humbling beyond measure”.
“That brought with it the obviously needed financial boost but equally an emotional one. We knew we had a fight, but we knew we weren’t fighting alone and this became our rallying cry,” the owners said.
“Even in our darkest moments we knew we had something that was worth fighting for, because the public told us it was worth fighting for. In bars, bottleshops and festivals, people were cheering for us, and it meant the world.”
