Craft brewer Valhalla is headed into liquidation.
It’s parent company – Lotus Beer Co – has been placed into liquidation with its debts reportedly now at more than one-point-three million dollars.
The business says the timing of the expansion into Federal Mills played a large role in the downfall.
Founder Scott Hunt told The Crafty Pint he was disappointed in the impact of closing.
“I feel awful and I really hate the fact we got into that situation,” he said.
“It’s not like we were spending only other people’s money. We remortgaged our house and we’ve put in hundreds and hundreds of thousands of dollars into this.
“Should we have shut down earlier? Probably in hindsight, but we had a lot of balls in the air at the time and we maybe didn’t react as quickly as we should have, but I reacted pretty quickly when we realised that we were incurring those debts.”
