Mighty Craft goes into administration: Aussie brewer collapses after owners tried to keep it afloat
An Aussie brewer and spirits manufacturer has gone down the gurgler, joining a growing list of businesses to shut their doors because of the cost-of-living crisis. Mighty Craft, which owns a 33 per cent share of Better Beer, has collapsed into administration after it scrambled to get out of financial trouble. The majority of Mighty Craft's revenue is through its 33 per cent ownership of Better Beer. An Aussie brewer and spirits manufacturer has gone down the gurgler, joining a growing list of businesses to shut their doors because of the cost-of-living crisis Better Beer is 46 per cent-owned by comedians Matt Ford and Jack Steele of The Inspired Unemployed Comedians Jack Steele and Matt Ford of The Inspired Unemployed have a 46 per cent stake in Better Beer. Better Beer co-owner Nick Cogger said the administration proceedings of Mighty Craft is just 'business as usual' for Better Beer 'Fundamental to this program was a proposed merger between Better Beer Holdings Pty Ltd and MCL, an arrangement that required the support of MCL's senior lenders and the shareholders of Better Beer.'
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