Fox Friday: Beloved Aussie brewers announce they | Australian Markets
Beloved Aussie brewery Fox Friday goes into administration after coming up towards ‘significant financial challenges’.
Owners Sarah and Benn Hooper revealed the news through a assertion share on social media, saying they have been sharing the “tough news” with “heavy hearts”.
Fox Friday has taproom venues in WA, Tasmania and Victoria.
“Sarah and I have made the difficult decision to place Fox Friday and subsidiaries (Moonah Hotel and Cellars, Carwyn Cellars) into voluntary administration with the appointment of McGrathNicol as the administrator,” the assertion mentioned.
“We’ve faced significant financial challenges that have brought us to this point. Our financial lender could not meet their obligations for our capital projects.
“While funding was confirmed, we experienced continual delays extending to March 2025, and now they have been placed into liquidation. This left us covering major capital projects with operational funds, based on assurances that support was still coming.”
The couple acknowledged the affect the choice would have on suppliers and issued a “sincere” apology.
“Your partnerships have been integral to our journey, and we deeply regret any uncertainty this brings,” the assertion mentioned.
“We tried everything we could to quickly pivot to new lenders and/or equity partners, but quite simply, time and the complex nature of the situation were not on our side.”
The couple mentioned they have been dedicated to preserving their venues open all through the processs, however there could possibly be some affect on working days and hours.
“While we understand that there will be some uncertainty as a result of this decision, we very much intend to come through the other side of this and we hope that Fox Friday and its subsidiaries will continue to operate well into the future.,” the assertion mentioned.
“We’ll keep you updated as things progress.”
They additionally thanks their “incredible team”, clients and the neighborhood.
“Thank you for believing in us, for sharing a beer with us, and for being part of this journey,” the assertion mentioned.
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