An iconic drinks brand has been saved from being liquidated after spending months in voluntary administration.
The beverage brand run by husband-and-wife team Nathan and Felicity Cowan out of Beechworth in north-east Victoria, Billson’s Brewery, was placed into administration in July.
Creditors McGrath Nicol last week outlines three options for the company: an end to the administration, a deed of company arrangement or liquidation.
Administrators recommended the second option as it offered the best return for creditors by allowing them to govern how to deal with the company’s affairs.
Mr and Mrs Cowan said they were ‘thrilled’ by the outcome which secured the future of the company and the 159-year-old brewery it’s based out of.
‘This…
