Popular beverage company Billson's enters voluntary administration
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The Australian beverage landscape was shaken this week as a famous brand may collapse soon.
Billson's, a brand known for its delightful cordials and pre-mixed alcoholic drinks, announced its collapse into voluntary administration.
This news left many Australians wondering if their favourite drinks might be disappearing from shelves forever.
Billson's, a name synonymous with refreshing beverages and a rich local heritage, has been a staple in Australian homes.
The announcement came as a shock to loyal customers and the industry alike, with owners Nathan and Felicity Cowan describing the decision as 'excruciatingly difficult'.
Since taking over the business in 2017, the Cowans have been at the helm of Billson's remarkable resurgence.
They revitalised the brand and restored the brewery in Beechworth, Victoria.
Billson's also introduced a range of new cordial flavours, sodas, and spirits.
Their efforts also brought life back to the brewery's grounds, which now feature a tap room, beer garden, and a speakeasy bar, offering visitors a chance to savour a drink or a meal.
However, the journey has been challenging.
The Cowans admitted that the rapid growth of the business inadvertently concealed several critical mistakes.
This was due to systems and processes that needed to scale with the company's expansion.
'We're ultimately responsible for these mistakes, and we know that we have let people down. We are devastated and sorry,' they expressed in a statement.
However, the couple remains hopeful and vowed to do everything they can to ensure that Billson's could weather the storm.
They believe in the brand's ability to overcome these 'vast and incomprehensible' challenges and continue to be a part of Australian culture for many more years.
In the meantime, Billson's Brewery will keep its doors open, and the online store will continue to operate as usual.
Founded back in 1865, Billson's stood as one of the oldest beverage manufacturing companies in the country.
As per the Australian Securities and Investments Commission's (ASIC) decision, Matthew Hutton and Robert Smith from McGrathNicol were appointed as administrators for Billson's.
They started conducting an 'urgent assessment' of the business and are exploring options for sale or restructuring.
Smith indicated that a business sale process will start 'imminently'.
The administrators also started working closely with management, employees, suppliers, and customers to secure the best possible outcome for the brand.
A creditors' meeting should happen on Monday, 12 August, to discuss the iconic brand's future.
Do you have a favourite Billson's beverage that you hope will stay available? Let us know in the comments below, and let's raise a glass to the hope that Billson's will find a way to continue its legacy.
Billson's, a brand known for its delightful cordials and pre-mixed alcoholic drinks, announced its collapse into voluntary administration.
This news left many Australians wondering if their favourite drinks might be disappearing from shelves forever.
Billson's, a name synonymous with refreshing beverages and a rich local heritage, has been a staple in Australian homes.
The announcement came as a shock to loyal customers and the industry alike, with owners Nathan and Felicity Cowan describing the decision as 'excruciatingly difficult'.
Since taking over the business in 2017, the Cowans have been at the helm of Billson's remarkable resurgence.
They revitalised the brand and restored the brewery in Beechworth, Victoria.
Billson's carry a variety of drinks and mixers. Image Credit: Billson's
Billson's also introduced a range of new cordial flavours, sodas, and spirits.
Their efforts also brought life back to the brewery's grounds, which now feature a tap room, beer garden, and a speakeasy bar, offering visitors a chance to savour a drink or a meal.
However, the journey has been challenging.
The Cowans admitted that the rapid growth of the business inadvertently concealed several critical mistakes.
This was due to systems and processes that needed to scale with the company's expansion.
'We're ultimately responsible for these mistakes, and we know that we have let people down. We are devastated and sorry,' they expressed in a statement.
However, the couple remains hopeful and vowed to do everything they can to ensure that Billson's could weather the storm.
They believe in the brand's ability to overcome these 'vast and incomprehensible' challenges and continue to be a part of Australian culture for many more years.
In the meantime, Billson's Brewery will keep its doors open, and the online store will continue to operate as usual.
Founded back in 1865, Billson's stood as one of the oldest beverage manufacturing companies in the country.
As per the Australian Securities and Investments Commission's (ASIC) decision, Matthew Hutton and Robert Smith from McGrathNicol were appointed as administrators for Billson's.
They started conducting an 'urgent assessment' of the business and are exploring options for sale or restructuring.
Smith indicated that a business sale process will start 'imminently'.
The administrators also started working closely with management, employees, suppliers, and customers to secure the best possible outcome for the brand.
A creditors' meeting should happen on Monday, 12 August, to discuss the iconic brand's future.
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