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Hawkers Beer emerges from administration
Melbourne’s Hawkers Beer has exited administration after creditors approved a financial restructuring of the business.
Last month, Hawkers’ debts reportedly included AUS$1.7m owed to the Australian Tax Office (ATO).
Following news of the debt, the craft beer business, based in Reservoir and trading as Australian Brewers Guild Pty Ltd, appointed administrators in a bid to create a Deed of Company Arrangement (DOCA) proposal to safeguard both the brewery’s future while providing the best outcome to creditors.
The DOCA, which has now been signed by creditors, will see Hawkers’ management, headed up by its original founder and managing director Mazen Hajjar.
Reassuring beer fans and the trade about that situation, Hajjar insisted that “the administration process didn’t change the way we operated at all” and reiterated that “beer production and sales have not been impacted”.
Noting the support the brewery has received from the trade, Hajjar explained: “After a challenging period for the business, we are grateful that our restructuring proposal was unanimously approved. Through a challenging time for the business, we have been buoyed by the support of our customers and supply partners.”
He added: “We are confident the restructuring will ensure the business is in a stronger position to compete in challenging market conditions.”
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