Quirky brewing is on the verge of collapse after the popular brewery goes bankrupt
- Wayward Brewing has gone into administration
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Wayward Brewing has gone bankrupt with $2 million in debt.
Peter Philip, who founded the Wayward brand in 2012, placed the company into voluntary administration on January 2.
The popular craft brewery, based in the inner-west Sydney suburb of Camperdown, owes about $2 million to statutory creditors including the Australian Taxation Office.
Wayward Brewing remains open under administrator Atle Crowe-Maxwell of DBA Reconstruction and Advisory.
Mr Crowe-Maxwell told it News.com.au the brewery is one of many breweries that are struggling after the government increased alcohol taxes in August.
Sydney craft brewer Wayward Brewing (above) has gone bankrupt with debts of about $2 million
“This whole industry has just been destroyed by the taxes,” he said.
He cited the cost of living as another blow to small businesses.
“People are drinking Carlton, not craft beer, and eating at home, or Maccas, not at craft breweries,” Crowe-Maxwell said.
Wayward opened its brewery and taproom in 2015 and now employs 15 full-time employees and several temporary workers.
More to come.