PwC has been appointed as administrator for beverage manufacturer Brink Drinks, leaving devastated drinks companies scrambling.

Based in Victoria, Brink Drinks launched in 2018 and offered a variety of services including whole-of-project management. It built a new production facility in Wendouree in 2022 and its clients included Bobby, Ordinary Soda, Golden Hour Tequila Seltzer and Coco Loco.

Female-founded start-up Coco Loco said it was shattered by the announcement. It had just launched its first product to market, an alcoholic sparkling coconut water.

“We’ve spent 18 months and our life savings, while also working full-time, creating the best product,” founder Jill Hale said.

“Coco Loco is delicious, full of flavour, all natural, using pure coconut water and made right here in Australia,”

“We had production paid for and ready to go for stock to sell at the Good Food & Wine Show in Melbourne, Sydney and Brisbane, as well as online through Dan Murphy’s.

“But, as of Monday, we were informed by an employee of our manufacturing partner Brink Drinks that their company had entered administration.

“Game over. Our pre-payment? Gone. Our pre-paid ingredients? Being held hostage indefinitely, unless we pay for them again. Our pre-paid packaging? Also a hostage situation. My business has been obliterated.”

According to data from debt monitoring firm CreditorWatch a record number of Australian businesses are now in the hands of external administrators, rising more than 22% since this time last year. The situation is being driven by weak consumer demand, cost pressures and outstanding ATO debts.

CreditorWatch said the food and beverage industries are the most at risk of failure.

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