Asia Pacific’s leading independent spirits distributor Proof & Company has placed its Australian business into voluntary administration, citing “a local economic downturn” and a “changing” Australian spirits industry landscape.
The administration process applies solely to its Australian subsidiary Sa’Pere Drinks, which is currently trading as Proof & Company Australia and includes Australian brands such as Husk Distillers’ Husk Rum and Ink Gin, and Everleigh Bottling Co.’s bottled cocktail range.
“This decision was not made lightly,” Proof & Company wrote in an online statement published on the weekend. “It reflects the challenges of a local economic downturn and a changing landscape in the spirits industry.”
Shane Justin Cremin and Brent Leigh Morgan of Rodgers Reidy have been appointed as voluntary administrators for the upcoming, with the first meeting of creditors to take place next Monday 5 May. “As is customary in this process, the appointed administrators will explore all options and seek to achieve the best possible outcome for all involved,” Proof and Co wrote.
Meanwhile, its offices in Singapore, Hong Kong and New Zealand, along with its Proof Creative bar consultancy service team and its…