Iconic Australian beverages brand Billson’s has plunged into voluntary administration.

Husband and wife team Felicity and Nathan Cowan announced today that they made the “excruciating and difficult decision” to enter administration.

“Together with the team, we’ve poured our hearts and souls into Billson’s and we are proud of everything that has been accomplished,” they said.

“Over the course of 7 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.”

The historic brewery was originally established in 1865.

The couple took over the business in 2017, at one point employing 200 staff before making 100 job cuts earlier this year.

“We are shattered by the stress this decision will undoubtedly cause our team, suppliers, customers and fans,” they said.

“We’ve tried everything imaginable over the past six months to avoid this situation, including restructuring on two occasions, however we now believe this to be the necessary step for survival.

“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.”

The Independent Brewers Association said the news meant Billson’s was the 20th independent brewery to either shut up shop, have been restructured or entered into voluntary administration in a year.

With the beer excise set to increase again this week, the IBA fears more independent brewers could be hurt.

“As valued members of the Independent Brewers Association, we wish Billson’s Brewery the very best and are always here to help as they move through this challenging time,” the IBA said.

“Beechworth has long been recognised for its brewing culture and it is our sincere wish that the team being supported through this process.

“This last 12 months has seen the largest shift in the craft brewing industry since its rapid period of growth over a decade ago.”

Rob Smith and Matthew Hutton from McGrathNicol have been appointed as administrators.

Billson’s Beverages sells its ready-to-drink cans in chains such as Dan Murphy’s and BWS.

The company made $120 million in sales in the 2023-24 FY, up from $100 million a year earlier.