An award-winning Gold Coast brewing company is in voluntary administration with its business to be sold after mounting tax debts left it unable to continue.
Black Hops Brewing wrote to investors late on Thursday saying Deloitte had been appointed to the company after a “tough decision”.
“This decision has not been easy to make, however, the path the ATO has taken with the business has left the company in a position where there was no alternative,” the company said.
Black Hops was founded by mates Dan Norris, Eddie Oldfield and brewer Michael “Govs” McGovern in 2015 after an unexpectedly successful experiment with Eggnog Stout.
By 2016, they had found a 250sq m building on Gardenia Grove, Burleigh Heads, took over the buildings next door and behind, and expanded to a 600sq m brewhouse.
Two years later they expanded to a super-sized brewery and tap house in Biggera Waters after crowd funding $400,000 in six days from 545 investors.
A third tap room at East Brisbane followed soon after.
Between the breweries, Black Hops brews more than a million litres of craft beer a year, is stocked in bottle shops and bars nationwide and employs up to 70 staff. Mr Norris has since left the company.
Director Tony Sutherland said he could…