One of Brisbane’s popular independent brewing companies that launched its first venue in Salisbury has gone into voluntary administration.
Ballistic Beer Co. through its founder David Kitchen recently announced that the company has entered into voluntary administration. Jason Stone and Paul Allen from PKF Melbourne have been appointed as administrators, according to a notice filed with the Australian Securities and Investments Commission (ASIC) dated 24 January 2023.
The company was launched in 2017 and opened its flagship brewery and venue in Salisbury that same year. Ballistic Beer has since expanded to West End, Springfield, Bundaberg and Airlie Beach.
Ballistic Beer established its name as one of Queensland high profile independent and multi-awarded brewing companies. Just months after it opened, it already won four gold medals. In all, the company won nearly 100 gold, silver and bronze medals at various national and international competitions.
Ballistic products are now sold in more than 2,800 bottle shops and venues across the country.
Mr Kitchen said that the decision is to let the company continue trading whilst they work with an experienced industry group to work out an investment and restructuring plan. Ballistic Beer will still be available to purchase online, in venues, and from local retailers.
Fans of the brewing company expressed support and hope that Ballistic Beer would come out of voluntary administration better and stronger.
“Please do not sell out to an overseas owned company.. that would be devastating!” writes one social media user.
“So sad to hear you’re in administration. Here’s hoping you come out the other side and stronger like @easytimes.brewingco with the help of pkf” another user wrote.
Published 7-February-2023
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