Valhalla Brewing and parent company Lotus Beer Co are set to be liquidated following a second meeting of creditors yesterday.
In mid-July, the Geelong-based beer business entered voluntary administration and its subsequent collapse puts a spotlight on a number of issues within the craft beer industry, including equity crowdfunding, beer distribution, and the tight cashflow conditions within which breweries are operating. It also leaves Lotus’ creditors, many of whom are small, independent breweries, tens of thousands out of pocket.
The decision to wind up the business was recommended by the administrators, Worrells. They said in a report to creditors that they had not received a Deed of Company Arrangement (DOCA) from founder and…
