‘It’s with heavy hearts’: Beloved Aussie brewery breaks shocking news to loyal fans
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Financial instability can hit even the most passionate and well-loved businesses, often in ways that aren’t immediately visible to the public.
What began as a promising venture for a small brewery has now reached a critical crossroads—one shaped by rapid growth, external pressures, and unexpected financial complications.
Now, its future hangs in the balance as its owners navigate a difficult chapter.
Tasmanian brewery Fox Friday faced a difficult moment after its owners confirmed the business and its subsidiaries had entered voluntary administration.
Despite this, the popular brewery continued to trade, with the team vowing to keep things running as normally as possible for now.
‘It’s with heavy hearts that we share some tough news,’ owner Benn Hooper wrote in a post shared to social media.
‘Sarah and I have made the difficult decision to place Fox Friday and subsidiaries into voluntary administration.’
The couple had purchased the brewery in March 2019, when it was still a small operation brewing in a factory unit in Moonah.
‘When we purchased Fox Friday in March 2019, it was just the two of us in a small factory unit located in Moonah, brewing beer during the week and running a makeshift taproom on the weekends,’ Mr Hooper wrote.
The brand expanded significantly in 2020, opening a taproom in Hobart and growing its team across new venues in Hobart, Melbourne and Perth.
‘In late 2020, we opened our Hobart Taproom, and from there, our team grew,’ he said.
‘We added new venues and breweries, and welcomed incredibly dedicated people to the Fox Friday family.’
Mr Hooper said he and his team were ‘immensely proud of’ what they had built.
However, things had taken a turn due to serious financial issues.
‘Unfortunately, we’ve faced significant financial challenges that have brought us to this point,’ he admitted.
He explained that their financial lender had failed to deliver the promised support for their capital projects.
‘Our financial lender could not meet their obligations for our capital projects.’
It was reported that Fox Friday’s financial backer, Falcon Capital, was currently under investigation by the Australian Securities and Investments Commission.
The investment firm had originally extended a $10 million loan facility to the brewery, which was later increased to $30 million.
‘While funding was confirmed, we experienced continual delays extending to March 2025, and now they have been placed into liquidation,’ Mr Hooper said.
‘This left us covering major capital projects with operational funds, based on assurances that support was still coming.’
He apologised to the business’s suppliers for the sudden news.
‘We deeply regret any uncertainty news of the administration brings,’ he wrote.
Efforts to find new financial partners had ultimately failed due to the complexity of the situation and limited time.
‘We tried everything we could to quickly pivot to new lenders and/or equity partners, but quite simply, time and the complex nature of the situation were not on our side.’
The company promised to continue trading and supporting its staff and customers as best it could, though there may be adjustments ahead.
Fox Friday said it was ‘committed to keeping it business as usual’ but flagged possible changes to its trading hours.
Mr Hooper said: ‘While we understand that there will be some uncertainty as a result of this decision, we very much intend to come through the other side of this and we hope that Fox Friday and its subsidiaries will continue to operate well into the future.’
Mr Hooper also issued a heartfelt message to his team.
‘To our incredible team: words can’t express how sorry we are,’ he wrote.
‘You’ve poured your hearts into these businesses, and we’re so grateful for your talent, passion, and dedication.’
He closed with a message of thanks to their loyal community: ‘To our customers and community: thank you for believing in us, for sharing a beer with us, and for being part of this journey.’
In a previous story, we looked at the growing number of bank branches shutting their doors across the country.
The closures sparked outrage among customers who felt left behind by major institutions.
If you missed it, you can catch up on what’s driving the change and how communities are responding.
With Fox Friday facing such a major shake-up, do you think the brewery can bounce back stronger than before? Let us know your thoughts in the comments.
What began as a promising venture for a small brewery has now reached a critical crossroads—one shaped by rapid growth, external pressures, and unexpected financial complications.
Now, its future hangs in the balance as its owners navigate a difficult chapter.
Tasmanian brewery Fox Friday faced a difficult moment after its owners confirmed the business and its subsidiaries had entered voluntary administration.
Despite this, the popular brewery continued to trade, with the team vowing to keep things running as normally as possible for now.
‘It’s with heavy hearts that we share some tough news,’ owner Benn Hooper wrote in a post shared to social media.
Fox Friday enters voluntary administration. Image source: Instagram/foxfridaybrewery
‘Sarah and I have made the difficult decision to place Fox Friday and subsidiaries into voluntary administration.’
The couple had purchased the brewery in March 2019, when it was still a small operation brewing in a factory unit in Moonah.
‘When we purchased Fox Friday in March 2019, it was just the two of us in a small factory unit located in Moonah, brewing beer during the week and running a makeshift taproom on the weekends,’ Mr Hooper wrote.
The brand expanded significantly in 2020, opening a taproom in Hobart and growing its team across new venues in Hobart, Melbourne and Perth.
‘In late 2020, we opened our Hobart Taproom, and from there, our team grew,’ he said.
‘We added new venues and breweries, and welcomed incredibly dedicated people to the Fox Friday family.’
Mr Hooper said he and his team were ‘immensely proud of’ what they had built.
However, things had taken a turn due to serious financial issues.
‘Unfortunately, we’ve faced significant financial challenges that have brought us to this point,’ he admitted.
He explained that their financial lender had failed to deliver the promised support for their capital projects.
‘Our financial lender could not meet their obligations for our capital projects.’
It was reported that Fox Friday’s financial backer, Falcon Capital, was currently under investigation by the Australian Securities and Investments Commission.
The investment firm had originally extended a $10 million loan facility to the brewery, which was later increased to $30 million.
‘While funding was confirmed, we experienced continual delays extending to March 2025, and now they have been placed into liquidation,’ Mr Hooper said.
‘This left us covering major capital projects with operational funds, based on assurances that support was still coming.’
He apologised to the business’s suppliers for the sudden news.
‘We deeply regret any uncertainty news of the administration brings,’ he wrote.
Efforts to find new financial partners had ultimately failed due to the complexity of the situation and limited time.
‘We tried everything we could to quickly pivot to new lenders and/or equity partners, but quite simply, time and the complex nature of the situation were not on our side.’
The company promised to continue trading and supporting its staff and customers as best it could, though there may be adjustments ahead.
Fox Friday said it was ‘committed to keeping it business as usual’ but flagged possible changes to its trading hours.
Mr Hooper said: ‘While we understand that there will be some uncertainty as a result of this decision, we very much intend to come through the other side of this and we hope that Fox Friday and its subsidiaries will continue to operate well into the future.’
Mr Hooper also issued a heartfelt message to his team.
‘To our incredible team: words can’t express how sorry we are,’ he wrote.
‘You’ve poured your hearts into these businesses, and we’re so grateful for your talent, passion, and dedication.’
He closed with a message of thanks to their loyal community: ‘To our customers and community: thank you for believing in us, for sharing a beer with us, and for being part of this journey.’
In a previous story, we looked at the growing number of bank branches shutting their doors across the country.
The closures sparked outrage among customers who felt left behind by major institutions.
If you missed it, you can catch up on what’s driving the change and how communities are responding.
With Fox Friday facing such a major shake-up, do you think the brewery can bounce back stronger than before? Let us know your thoughts in the comments.
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