Old Young’s and Gingin Gin producer Australian Distilling has entered voluntary administration.
The distillery is located in Swan Valley, near Perth in Western Australia, and trades as the three companies: Old Young’s, Juniper Society and Gingin Gin.
Representing RSM Partners and National Directors Recovery and Restructuring, Greg Dudley, Phil Davies and Jerome Mohen were appointed voluntary administrators on 9 September.
They have since taken control of the company.
Mohen said the group was “undertaking an urgent assessment of its financial position to form a view regarding its future viability, and to provide the company with the opportunity to restructure its business”.
Australian Distilling will operate ‘business as usual’ in the interim.
In the administration period, director and Old Young’s founder James Young is expected to put forward a restructuring proposal.
He said: “We are working with our advisors to formulate a restructuring proposal that will provide the best outcome for creditors and ensures shareholders retain their shares as we exit administration, including those issued via previous…