Popular craft brewery Black Hops has gone into administration after the company failed to find a buyer at the last minute.
This is the second time the Gold Coast brewery has gone into administration.
Administrators Chris Cook and James Robba of Worrells were appointed to the two companies behind the business – Black Hops Craft and Green Hops Brewing – late on Tuesday.
Black Hops will continue to operate as normal while administrators work with directors and senior managers to assess the company’s current financial position and initiate a sale of the business.
Black Hops director Luke McCormack said the company was part of a growing trend of Australian breweries struggling to survive.
“Unfortunately, the headwinds affecting the Australian independent brewing sector have never been greater,” he said in a statement.
“The business had made good progress in sales negotiations over the last few months but unfortunately these broke down at the eleventh hour.
“We now believe that voluntary administration provides the best opportunity to preserve the business and maximize prospects for a successful future, and we will assist Worrell throughout this process.”
Mr Cook said Black Hops was an established brand with a loyal customer base and dedicated team.
“Our goal is to put in place an orderly process that will provide interested parties with the opportunity to acquire the business while seeking to maximize the outcome for stakeholders,” he said.
The brewing company started out of a Burleigh Heads garage on the Gold Coast in 2015 and has grown to become one of Queensland’s largest independent brewers.
At its peak, it produced over 2.5 million liters of beer and employed 70 staff.
This is the second time the business has needed a last-minute reprieve after a consortium of investors came to its rescue in 2024.
Mr McCormack thanked the staff.
“We also want to extend our heartfelt thanks to the team at Black Hops and everyone who has supported the brewery during a difficult time for Australian independent beer.”