An independent Queensland-based craft beer company with a brewery in the Whitsundays has gone into voluntary administration, leaving locals wondering what’s next for its Cannonvale venue.
Ballistic Beer Co - which began its local operations in March 2021 after acquiring Whitsunday Island Brewing Company – announced the decision on Monday, stating it had suffered financially during the Covid pandemic and through a product recall late last year.
Speaking with an industry publication, The Crafty Pint, company co-founder David Kitchen said Ballistic hoped to remain trading after “a massive restructure”.
“The present intention is to continue trading,” Mr Kitchen told the publication.
“The aim of that VA [voluntary administration] is just to reorganise and restore the balance sheet. And we expect to be out of it in five weeks’ time, and onwards and upwards.
The company is a local favourite and national award winner, recently making it into the top 10 of GABS Hottest 100 Craft Beer countdown – one of the largest beer festivals in the world.
As well, it has garnered popularity locally for its Reef-themed beers and philanthropic donations to local charity Eco Barge Clean Seas.
Administrators at PKF Melbourne have been appointed for the company and in a statement said their present intention is to carry on Ballistic Beer Co’s activities and to continue trading.
“We are reviewing the company’s operations, activities and financial position to enable us to provide an opinion on the company’s future. It is expected that a proposal will be received and that, if accepted, will see the company continue into the future,” the PKF statement reads.
It has been confirmed that the administration will not be felt by its related companies, Ballistic Whitsundays included -- only Ballistic Beer Company and Ballistic Springfield will be impacted.
Mr Kitchen said in five weeks’ time, they expect “the company will be in a much better shape.”
“In the meantime, Ballistic will continue trading and our product is still available in venues and in bottle shops, national chains, and for wholesale. So that doesn’t change,” he said.
Local workers were contacted for comment.
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