Owners of the 159-year-old Billson’s Brewery in Beechworth, Victoria, have announced the drinks manufacturer has gone into voluntary administration
Hope remains, however, that the company may still have a future.
In a statement on Billson’s Brewery’s Facebook page, co-owner Nathan Cowan said the decision to go into administration was “excruciatingly difficult.”
“In 2017 Felicity and I moved to Beechworth with dreams of restoring the historic brewery and creating a special experience for everyone who visited,” he said.
“Together with the team, we’ve poured our hearts and souls into Billson’s and we are proud of everything that has been accomplished.
“Over the course of seven years, everyone’s hard work and passion has resulted in overwhelming support by people all over Australia and some pretty incredible business growth.”
Cowan said the growth of the business had masked several mistakes they made along the way as the company’s systems and processes failed to keep pace.
“We’re ultimately responsible for these mistakes and we know that we have let people down,” he said.
“We are devastated and sorry.”
Cowan said he and partner, Felicity, were heartbroken, and knew it would impact upon their team, suppliers, customers, and fans.
“We’ve tried everything imaginable over the past six months to avoid this situation, including restructuring on two occasions, however we now believe this to be the necessary step for survival,” he said.
“The brewery has stood proud for over 150 years and has undoubtedly faced many other perilous times.
“The challenges we’ve encountered in 2024 have been vast and incomprehensible in scale.”
But Cowan said he was not willing to let go of the dream just yet.
“We will do everything possible to work through this so Billson’s can emerge more resilient as a business and ready to take on another century,” he said.
“With so many family businesses teetering on the edge, any support you are able to provide your local businesses, in any way at all, will mean more now than ever.”
The business’s venue will remain open seven days a week and its online store will trade as usual.
“We’ll continue to supply our fans through all of our amazing customers in bottle shops and venues across the country,” the owner said.
A Sign of the Difficult Times: Retail Expert
Graeme Hughes, one of the nation’s leading retail experts, says that while isolated business struggles were common, a string incidents represent a more serious issue.“While individual business failures can be attributed to a variety of factors, the increasing number of businesses facing similar difficulties suggests broader economic pressures,” the Griffith University academic told The Epoch Times.
“The hospitality and manufacturing sectors, which Billson’s operates in, have been particularly impacted by rising costs, inflation, and consumer spending patterns.”
Hughes said there was a “growing trend” of businesses facing challenges in the current economic situation.
“Factors such as inflation, rising interest rates, rents, wages, supply chain disruptions, and changing consumer behaviour have created a perfect storm for many businesses.
“This is evident not only in high-profile cases like Billson’s but also in smaller, local businesses struggling to stay afloat.”
The Australian Securities and Investment Commission’s annual insolvency data published in July showed more than 11,000 companies had entered external administration for the first time in 2023 and 2024.
