Brett Lee’s beer brand crumbles despite millions in funding—what went wrong?
- Replies 11
The business world can be unpredictable, with even well-backed ventures facing unexpected hurdles.
A well-known Australian brand, co-founded by a sporting legend, has found itself in financial trouble despite ambitious expansion plans.
Now, just months after securing a major investment, the company has entered administration, leaving questions about what went wrong.
Brett Lee’s beer company, Sydney Beer Co, collapsed into administration just months after expanding into the US.
Documents filed with the Australian Securities and Investments Commission (ASIC) revealed that the business struggled in a challenging market.
RSM Australia’s Richard Stone and Brett Lord were appointed as administrators, with the first creditors’ meeting scheduled for 19 March.
The company had raised over $6 million to fund its US expansion only six months before entering administration.
Sydney Beer Co had been exporting to both Malaysia and the US before its financial troubles emerged.
ASIC filings showed the company went into administration last 14 March.
Lee, one of Australia’s top fast bowlers with 310 wickets in 76 Test matches, co-owned the business alongside writer and actor Matt Nable.
The collapse of Sydney Beer Co came shortly after Prime Minister Anthony Albanese announced a freeze on the beer excise in what he called a ‘modest’ cost-of-living measure.
From August 2025, the biannual alcohol excise would be paused for draught beer and beer served from kegs or casks, meaning only venues such as pubs, bars, and restaurants would benefit, while bottled and canned beer would remain unaffected.
The excise had already increased for the 84th time on 4 February, with beer taxes adjusted based on alcohol content and volume, while the excise on spirits rose from $103.89 to $104.31 per pure litre of alcohol.
Albanese said the move aimed to help breweries, regional tourism, and venues struggling with rising costs and inflation pressures.
‘My government is building Australia’s future and to do that we need to support our small and medium local businesses to thrive,’ he said.
‘Freezing the excise on draught beer is a commonsense measure that is good for beer drinkers, good for brewers and good for pubs.’
In a previous story, we covered the unexpected closure of a beloved pub that left locals reeling.
The challenges facing hospitality businesses continue to mount, with even well-loved establishments struggling to stay afloat.
Read more about how one community fought to keep its favourite watering hole open.
Even well-backed businesses aren’t immune to financial troubles, and this latest collapse raises plenty of questions.
Do you think this was just bad luck, or were there warning signs all along?
Let us know your thoughts in the comments.
A well-known Australian brand, co-founded by a sporting legend, has found itself in financial trouble despite ambitious expansion plans.
Now, just months after securing a major investment, the company has entered administration, leaving questions about what went wrong.
Brett Lee’s beer company, Sydney Beer Co, collapsed into administration just months after expanding into the US.
Documents filed with the Australian Securities and Investments Commission (ASIC) revealed that the business struggled in a challenging market.
RSM Australia’s Richard Stone and Brett Lord were appointed as administrators, with the first creditors’ meeting scheduled for 19 March.
The company had raised over $6 million to fund its US expansion only six months before entering administration.
Sydney Beer Co had been exporting to both Malaysia and the US before its financial troubles emerged.
ASIC filings showed the company went into administration last 14 March.
Lee, one of Australia’s top fast bowlers with 310 wickets in 76 Test matches, co-owned the business alongside writer and actor Matt Nable.
The collapse of Sydney Beer Co came shortly after Prime Minister Anthony Albanese announced a freeze on the beer excise in what he called a ‘modest’ cost-of-living measure.
From August 2025, the biannual alcohol excise would be paused for draught beer and beer served from kegs or casks, meaning only venues such as pubs, bars, and restaurants would benefit, while bottled and canned beer would remain unaffected.
The excise had already increased for the 84th time on 4 February, with beer taxes adjusted based on alcohol content and volume, while the excise on spirits rose from $103.89 to $104.31 per pure litre of alcohol.
Albanese said the move aimed to help breweries, regional tourism, and venues struggling with rising costs and inflation pressures.
‘My government is building Australia’s future and to do that we need to support our small and medium local businesses to thrive,’ he said.
‘Freezing the excise on draught beer is a commonsense measure that is good for beer drinkers, good for brewers and good for pubs.’
In a previous story, we covered the unexpected closure of a beloved pub that left locals reeling.
The challenges facing hospitality businesses continue to mount, with even well-loved establishments struggling to stay afloat.
Read more about how one community fought to keep its favourite watering hole open.
Even well-backed businesses aren’t immune to financial troubles, and this latest collapse raises plenty of questions.
Do you think this was just bad luck, or were there warning signs all along?
Let us know your thoughts in the comments.
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to go with it
good question
