Brisbane-based brewer Ballistic Beer Company has entered voluntary administration to give it time to restructure the business and reorganise its balance sheet before continuing operations.
ASIC records show Jason Stone of accountancy and advisory firm PKF was appointed to undertake the administration.
Ballistic founder and director David Kitchen told Brews News he expected the company to exit administration within about five weeks.
“The aim of that voluntary administration is just to reorganise and restore the balance sheet,” he said.
Throughout the process the business will continue to trade as normal, its products remaining on sale in venues and liquor stores.
According to ASIC documents, the administration impacts Ballistic Beer Company and Ballistic Springfield. Affiliated companies Ballistic Whitsundays, Ballistic Hospitality, and Ballistic Bargara are unaffected.
Ballistic Beer, which built its first brewery and venue in Salisbury in April 2017, has won multiple awards for its beers. It has locations in Brisbane’s West End and Springfield, as well as the Bargara Brewery in Bundaberg and The Whitsunday Brewing Company, which it acquired in March 2021.
A creditors meeting will take place on February 6.
