Hawkers Beer enters voluntary administration to facilitate financial restructuring
Australian Brewers Guild Pty Ltd trading as “Hawkers Beer” (Hawkers) has announced they have appointed an administrator to help facilitate a financial restructuring of the business. Hawkers is one of Melbourne’s largest manufacturer and distributor of craft beers, based in Reservoir.
DBA Reconstruction & Advisory as Administrator is supporting the continued operation of Hawkers, so employees and customers should consider it business as usual. There will be no impact to ongoing production and distribution as a result of this appointment.
The directors of Hawkers have taken this step to deal with financial losses the business has accrued in the face of increased restrictions on market access combined with significant increases in production and distribution costs. The directors are working with the Administrator on a Deed of Company Arrangement (DOCA) proposal, which will provide a framework for the restructuring of the business. They are confident the financial restructuring will result in a stronger and more resilient business emerging from administration.
Founder and Managing Director Mazen Hajjar said “post Covid has been a challenging period with bigger players increasingly restricting access to taps and shelf space, combined with broader economic pressures, including increased input costs and taxes.
However, we are confident that the restructuring will ensure the business is in a stronger position to fight these challenges going forward.”
Hawkers remains committed to maintaining a high standard of service and open communication with all stakeholders during this restructuring process.