Boutique rum maker Sydney Distilling Co, which has been trading as Brix Distillers, has entered into voluntary administration, with Bem Carson and Richard Stone of RSM Australia Partners appointed as joint and several voluntary administrators.
The administrators said they are currently exploring all available options for Brix, which was founded in 2017, including the sale of business assets or recapitalisation through a deed of company arrangement (DOCA), to maximise the return for creditors and the opportunity for the continuation of the brand and business.
“As Administrators, our priority is to explore every available option to achieve the best possible outcome for not only creditors, but for a legacy Australian distillery brand – including pursuing a sale of the business and its assets” Carson said.
“We are currently speaking to a number of parties who have expressed interested in the future of this premium craft rum brand and business.
“We are greatly encouraged by the interest shown in the brand and available assets and are hopeful of executing a sale or entering into a DOCA.”
Brix has operated a cellar door and bar in Surry Hills and Carson said the company has one of the…