Australian brewing company collapses after nearly 160 years in business

Published:

31 Jul 2024 13:29 GMT

“We are responsible for these mistakes, and we know we have let people down. We are devastated and sorry,” the owners of Billson’s said in a statement.

Amid a series of unfavourable conditions for Australian breweries, husband and wife team Nathan and Felicity Cowan have announced that their company Billson’s is facing financial difficulties and has entered voluntary administration after almost 160 years in business, report local media.

Founded in 1865, the Billson’s drinks brand and its historic brewery in Beechworth, in the north-west of the Australian state of Victoria, attracted thousands of visitors each year. It became a popular tourist spot offering tours of its facilities, accommodation, beer garden and bar.

The owners believe that the drop in sales of some of their products is due to the decrease in consumer spending due to the rising inflation and high government taxes to the production of alcoholic beverages.

“Over the course of seven years, everyone’s hard work and passion has resulted in overwhelming support from people across Australia and incredible business growth. Unfortunately, that growth obscured several mistakes we made along the way, as our systems and processes failed to keep up. Ultimately, we are responsible for these mistakes, and we know that we have let people down“We are devastated and sorry,” the Cowans said in a statement.

The company’s collapse came despite a recent surge in sales, reaching around $120 million in 2023-2024, up from $100 million in the previous period. In January, Billson’s employed approximately 200 staff members. However, by February, in an effort to cut costs, the company was reportedly down to just 100 staff members, with plans to implement further cuts.

Billson’s It is not the first company to face this situation.; In the past month alone, two other Australian breweries have entered voluntary administration. One of them is Mighty Craft, which was one of Australia’s fastest-growing breweries, which collapsed on July 23. So did Lotus Beer on July 17.