Dainton Beer enters Voluntary Administration
Dainton Beer enters voluntary administration to facilitate a financial restructuring of the business
Daicom Australia Pty Ltd trading as “Dainton Beer” (Dainton), has announced their decision to appoint an administrator to help facilitate a financial restructuring of the business. Dainton operates a craft brewery and taphouse in Carrum Downs and a second taphouse in Croydon.
DBA Advisory as Administrator is supporting the continued operation of the business, so Dainton’s employees and customers should consider it business as usual. There will be no impact to ongoing production and hospitality operations as a result of this appointment.
Dainton’s directors have taken this step to deal with financial losses the business has accrued from ill-timed expansion in the face of declining consumer demand. 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.
Dan Dainton, Founder and CEO, said “The last year or so has been an extremely challenging period across our industry and for the wider economy. However, we remain positive that we will see better times ahead and that this necessary process is an opportunity to reset so we can strive forward.”
Dainton remains committed to maintaining a high standard of service and open communication with all stakeholders during this restructuring process.