Australian owned online liquor retailer Gintonica has fallen into administration, just weeks after going up for sale.
Gintonica this week joins the ranks of boutique online liquor retailers forced to close their virtual doors due to economic pressures.
Launched in 2017, Gintonica served Australia’s craft gin enthusiasts an online bottleshop, a Gin filled advent calendars, a monthly Gin subscription program highlighting small Aussie business, and a recently launched WhiskyRocks whisky subscription service. The company was beloved by loyal customers and secured more than $240,000 in crowd funding as of June last year.
Just last month the company went up for sale with founder David Box stating, “the team and I are proud to have contributed to the promotion and rise in popularity of Australian gin and, more recently, whisky, but now it is time to hand over the reins to new passionate gin lovers who, I am sure, will take it to the next level.”
Regarding his future, Box stated: “I have decided to focus the ongoing business on distillery services, under the name ‘Spirited Bottlers’.”
As of this week, Gintonica has appointed David Ross of I & R Advisory as administrator. The first meeting of creditors will take place on July 3. Customers awaiting shipments have been advised to contact the business due to the suspension of order processing.
Gintonica is the latest in many crowd funded startups to collapse. In the online liquor distribution industry, Boozebud and Kaddy Group earlier this year had seemingly similar fates before they were swooped up and rescued out of administration by Hairydog and Lecca respectively.
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