Mighty Craft (ASX:MCL) and various related entities - Voluntary Administration

Mighty Craft (ASX:MCL) and various related entities, a craft drinks accelerator that owns a minority stake in Better Beer, entered voluntary administration on 22 July.

The company has built a diversified portfolio of craft brands, strategically investing in craft drinks producers and helping them scale production, distribution and sales.

The company had been in talks to merge with Better Beer, but reportedly decided to appoint Quentin Olde and Liam Healey of Ankura Consulting as voluntary administrators after the deal fell through. The deal had been part of a larger divestment and restructuring program being undertaken by the company to reduce its debt.

The business will continue to run on a business-as-usual basis while the administrators assess options.