Online craft gin platform Gintonica has entered administration, with documents listed by the Australian Securities and Investments Commission showing David Ross of I & R Advisory has been appointed as administrator.
It comes as business collapses hit the highest monthly level in more than seven years. The first meeting of Gintonica’s creditors will take place on July 3.
The company has a large number of shareholders, after conducting a capital raise on the Birchal crowdfunding site in June last year.
That raise brought in $243,751 from 303 investors, according to the Birchal website.
Gintonica announced the business is was for sale last month. Founded in 2017 by David Box, Gintonica is best known for its Australian craft gin advent calendars.
Box’s love of gin started with his sundowner ritual of a G&T and he soon found himself seeking out micro and regional distilleries to learn about their hand-crafted production and centuries old traditions.
Gintonica’s focus is on producing 30mL and 50mL tasting bottles and then packaging them as advent calendars, tasting packs,
gin subscriptions, gin gift packs and cocktail packs.
“The team and I are proud to have contributed to the promotion and rise in popularity of Australian Gin and more recently whisky, with WhiskyRock, 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,” Box said last month.
Today he posted a brief message on LinkedIn saying: “Sadly, the end of an adventure.”