BILLSON'S Beverages has entered voluntary administration, with proprietors Nathan Cowan and his wife Felicity making the announcement on Wednesday.

They have appointed Rob Smith and Matthew Hutton from McGrathNicol as administrators to help them through a deterioration of market conditions.

The maker of non-alcoholic cordials and premixed alcoholic drinks on social media said "incredible business growth" that masked several mistakes with their systems and processes was the reason for the decision.

Mr Cowan said, “After some incredibly successful years, Billson’s has encountered some severe growing pains and a raft of unforeseen challenges over the past six months resulting in a need to restructure”.

It comes after Billson's cutting of several jobs in March this year due to "cost of living pressures and a change in consumer behaviour".

“Our customers’ choices are influenced by the cost of living pressures, while we are battling working capital challenges, the rising costs of energy, freight, ingredients and
raw materials, and the third highest sprit tax in the world," Mr Cowan said.

“The inevitable restructure will impact not only the team, but the community of Beechworth and the broader region. 

"I’m ultimately responsible for the health of the business and to have this happen on my watch is crushing. 

"We weren’t able to predict the speed nor the magnitude of the shift in the market conditions. I’m devastated.” 

Mr Cowan said that over the past seven years they have worked tirelessly to revitalise the business by developing a unique range of flavourful drinks and to restore the historic brewery into a vibrant tourist destination and we are proud of our achievements in both those areas.

“Billson’s has experienced overwhelming support from consumers and fans all over the country and has built strong partnerships with wonderful retailers and suppliers, and our commitment to those partnerships is unwavering. 

"It remains our mission to create flavourful experiences for people to enjoy." 

Billson’s will look for a partner to support the business with the working capital needed to increase efficiency, but still remain artisan, to better compete with the global players that dominate the market.

Mr Cowan is confident the financial restructuring, combined with a new innovation plan, will result in a stronger and more resilient business emerging from administration.

Earlier, the owners took to social media to give a heartfelt message to all their supporters.

"Together with the team, we’ve poured our hearts and souls into Billson’s and we are proud of everything that has been accomplished," Nathan and Felicity wrote in a post on Facebook. 

"Over the course of seven years, everyone’s hard work and passion has resulted in overwhelming support by people all over Australia and some pretty incredible business growth. 

"Unfortunately that growth masked several mistakes we made along the way as our systems and processes failed to keep up. 

"We’re ultimately responsible for these mistakes and we know that we have let people down. We are devastated and sorry." 

They said they have tried everything imaginable over the past six months to avoid this situation and now believe the voluntary administration to be "the necessary step for survival". 

"The brewery has stood proud for over 150 years and has undoubtedly faced many other perilous times," the post read. 

"The challenges we’ve encountered in 2024 have been vast and incomprehensible in scale. 

"We will do everything possible to work through this so Billson’s can emerge more resilient as a business and ready to take on another century.

"We know how difficult the current environment is out there for everyone. 

"With so many family businesses teetering on the edge, any support you are able to provide your local businesses, in any way at all, will mean more now than ever. 

They intend for the venue to remain open seven days per week and their online store will operate as usual. 

"We’ll continue to supply our fans through all of our amazing customers in bottle shops and venues across the country." 

Billson's is a family owned beverages businesses based in Beechworth and was established in 1865.