Six String Brewing Company has appointed Henry McKenna of Vincents as external administrator to facilitate a financial restructuring of the business.
Henry McKenna and the team at Vincents will assume responsibility for the day-to-day administration of the company and will work alongside Director Chris Benson and key stakeholders to assess opportunities to strengthen the business and determine the best path forward.
Importantly, Six String will continue operating throughout this process. For our customers, suppliers and partners, it will be business as usual. Our Taproom will remain open as normal and our wholesale sales and production will continue while we work to identify opportunities to strengthen the business and secure its future.
For more than 13 years, Six String Brewing Company has poured everything we have into building the business. Growing from a passion for beer into a brewery, hospitality venue, live music destination and business that has employed local people, supported local suppliers and become part of the Central Coast community.
Over the past few years, the business made a significant investment in its future through the move to a larger facility, expanded brewing capacity and the creation of new opportunities across hospitality, events, tourism and contract brewing. During this period, Six String continued to grow sales despite a broader decline across the craft beer market.
We have, however, not been immune to rising costs, increasing excise, inflationary pressures and cost-of-living challenges and, like many businesses across the brewing and hospitality industries, we’ve felt the impact of the current economic climate.
This has certainly not been an easy decision. After carefully considering the options available, Chris Benson determined that appointing an external administrator was the most responsible course of action to address the financial challenges facing the business and provide the best opportunity to secure its future.
While there is naturally some uncertainty ahead, Six String remains optimistic about the future. We believe strongly in what has been built over the past 13 years and the role Six String continues to play within the Central Coast community.
The business enters this process with a purpose-built brewery, a unique venue, loyal customers, strong supplier relationships and a passionate team behind it. Our focus now is on stabilising the business, strengthening its foundations and creating a more sustainable platform for the future.
We are grateful for the support and feel a responsibility for working through this process so that we can emerge stronger on the other side and continuing to build a business that our community can be proud of for many years to come.
