Following months of speculation surrounding Mighty Craft’s debt, divestment and restructuring efforts, the brakes have been put on the craft industry accelerator as it enters voluntary administration.
Over the past year Mighty Craft has sold its Mismatch and 78 Degrees brands, appointed a new Managing Director, who has subsequently stood down, and also appointed a new Non-Executive Chair. In addition the company has reported revenue declines, unsustainable levels of debt and a focus on merging with Better Beer.
Today, in a statement to the ASX Mighty Craft said the proposed merger with Better Beer was fundamental to its ongoing divestment and restructuring program. Mighty Craft’s senior lenders and the shareholders of…
