Better Beer “cracking on” with business despite Mighty Craft collapse

Australian brewing sensation Better Beer says business will continue as usual, after a collapsed proposal to merge with Mighty Craft fuelled the latter venture’s decision to enter voluntary administration.

Mighty Craft, an accelerator of boutique beverage brands, on Monday tapped Liam Healey and Quentin Olde of restructuring firm Ankura to serve as its voluntary administrators.

The appointment comes in a torrid time for the craft beer sector, as outstanding debts, diminished consumer spending, and high excise payments punish bottom lines.

In a statement published through the ASX, the administrators said the company had attempted a divestment and restructuring plan to work down its debts.