Alcoholic seltzer brand South Ave has entered voluntary administration, reportedly owing about $11 million to the tax office.
ASIC notices show South St Liquor Pty Ltd, which trades as South Ave, appointed Nathan Karl Schwarz and Daniel Lopresti as administrators on November 6.
Aussie seltzer brand South Ave enters administration with $11m tax debt. Instagram/@southaveofficial
The collapse follows a reported dispute over repayment timelines for millions of dollars in unpaid excise duties.
Co-founder and chief executive Reno Marrasso told Adelaide Now that the company discovered a $13 million excise debt after a voluntary audit last year, despite being told it was in credit.
“For a period with the ATO we kept being told we were in credit…