Konvoy Holdings et al. - Voluntary Administration

Konvoy Holdings et al., a group of companies which operate a leading keg rental and long-term keg leasing business across Australasia, entered voluntary administration on 11 March.

Konvoy was launched in Australia and New Zealand in October 2019 by co-founders Adam Trippe-Smith and Shane Bradley. It has since grown to a team of 30 and built a fleet of more than 280,000 kegs that it rents out to breweries.

Over the last few weeks, several key executives, including former CEO Wade Rushton-Clarke, reportedly left the business after financier AquAsia refused to provide further funding.

Paul Harlond, Chris Hill and Joseph Hansell of FTI Consulting were appointed administrators, while Keith Crawford and Robert Smith of McGrathNicol were appointed receivers and managers by secured creditor EQT Structured Finance Services. The receivers are operating the business while progressing with a sale and recapitalisation process.