Akasha Brewing have become the latest brewery to enter voluntary administration, with the Sydney-based operation appointing the professional services firm Vincents to oversee the business as they “restructure the operations of the company and to come to terms with creditors”.
The news comes just a week after Deeds appointed Deloitte to oversee a restructuring of the business.
In a media release, Akasha’s founder and CEO Dave Padden said the brewery felt it was a necessary step due to the challenges the industry and wider economy have faced over the last year.
“Whilst we felt this step was necessary to ensure the future success of the brewery, it was a very difficult decision to make,” Dave said in the media release.
“If you’re a fan of our beers, we’d really appreciate your support during this time.”
Dave said there would be no impact on their beer production, distribution or the taproom in Five Docks, while “employees, suppliers and customers should consider it business as usual.”
Akasha are well known for their hop-forward beers; prior to launching the business in 2015, Dave (pictured below) had already spent years in the beer industry at Riverside Brewing in Parramatta. Primarily,…