Brisbane’s Easy Times Brewery has announced it has appointed a voluntary administrator to assist the business to restructure.
In a statement issued to Brews News, the company said it is “a necessary, but largely strategic process that should not be mistaken for insolvency”.
“The intent is absolutely to find a way to restructure and refinance and through the VA process ideally seek to pay all trade creditors wherever possible and continue trading moving forward,” the statement said.
“This is best achieved by industry support which we hope we have at least earned in some part.
“The brew pub and brewery itself remain a viable business model and several of the industry peers you all know well are back on the tools, hands-on to help right the ship.”
voluntary administration is a process under Corporations Law to provide for a business experiencing trading difficulties to be administered in a way that maximises the chances to continue in existence, or result in a better outcome for a company’s creditors than would result from an immediate winding up.
Under the process, Easy Times is continuing to trade the statement said, with several key events scheduled to be held at the adjacent Gabba Cricket Ground, which are…