Australia’s first Indigenous-owned non-alcoholic craft beer company has gone into voluntary administration a year after selling their production site and planning a strategic downsizing.
The award-winning Gold Coast based Sobah Beverages was founded in 2017 by Clinton Schultz just as the non-alcoholic adult drinks boom was starting.
Mr Schultz and his wife Lozen, who are directors of the company, did not return phone calls.
The company embarked on a $1m crowd-funded capital raising, with more than 770 investors flagging early interest to help fund the fit-out of its Burleigh brewery complex.
According to a company search, investors included Brisbane healthcare rich lister Stuart Giles and pet food boss Chris Essex.
The company enjoyed early momentum, finding a place on the shelves of major bottle shops BWS and Dan Murphy’s – but it was short-lived.
Last year, Mr Schultz told industry website The Crafty Pint the company was carrying too much debt, leading to a decision to sell their production site and taproom.
Property records show their property at 1/314 Burleigh Connection Rd was sold for $4.49m in August.
In Sobah Beverage’s most recent financial statement, lodged with ASIC for 2022-23, the company reported a net loss of…