Lygon Street brewery Alchemy calls it quits

Lygon Street brewery Alchemy calls it quits

Photo: Alchemy Brewing Co, via Facebook.

As voluntary administrations (VA), restructurings and wind-up notices continue to flow through Australia's craft beer sector, the owners of yet another brewery have decided to bite the bullet, albeit without the hefty drama of a VA.

Alchemy Brewing Co, a brew-pub on Lygon Street in the Melbourne suburb of East Brunswick, announced on social media yesterday that it would be throwing a farewell party on 29 June.

"It’s with a heavy heart I’m announcing Alchemy Brewing will close at the end of the month," co-founder Pim Muter wrote on the company's social media.

"I am incredibly proud of the venue I built but we’ve had a rough ride and it’s time to call it quits," said Muter, who established the venue in December 2019 with Sam Percy.

Alchemy Brewing Co co-founder Pim Muter.
Alchemy Brewing Co co-founder Pim Muter.

 

The news follows the announcement last month that Gold Coast brewery Black Hops was rescued from administration in an environment of decreased sales and higher costs. As it seems to often be the case in these situations, the Australian Tax Office (ATO) was the brewery's largest unsecured creditor. 

Other recent downfalls in the sector include Gippsland-based Grand Ridge Brewery and Deeds Brewing in the Melbourne suburb of Glen Iris, as well as WA-based operations Otherside Brewing and Black Brewing, all of whom entered administration within the last few months.

An insightful anonymous column in industry publication The Crafy Pint for its 'Secret Brewer' series yesterday emphasised that the number of voluntary administrations only represent a small percentage of the entire brewing industry, but they have damaged the industry in many ways.

These include leading suppliers to change the way they do business with everyone after being burnt by a brewer in administration, or fostering cynicism amongst consumers who may assume it's just a means to wipe debt and move on.

 

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Brisbane-based IT consultancy Exent acquired by Atturra for up to $8m

Brisbane-based IT consultancy Exent acquired by Atturra for up to $8m

Founder-led IT consultancy Exent is set to join the growing portfol...

Investors sour on Aussie Broadband's new challenger brand Buddy Telco with $10m marketing cost

Investors sour on Aussie Broadband's new challenger brand Buddy Telco with $10m marketing cost

After rival Superloop (ASX: SLC) scooped up its white labelling agr...

Bonjour Paris: Qantas launches third direct flight to Europe from Perth

Bonjour Paris: Qantas launches third direct flight to Europe from Perth

Australia's leading airline Qantas (ASX: QAN) last night l...

Golden handshakes to departing ASX100 CEOs hit 12-year high

Golden handshakes to departing ASX100 CEOs hit 12-year high

Around one in every six CEOs of ASX100 companies left their job&nbs...