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Beer industry: Mighty craft owes creditors Pure Asset Management, KPMG, RSM over $22 million

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The beverages group, which owns 25 per cent of zero carb brand Better Beer, owes money to Pure Asset Management and KPMG, according to its creditor list.

The craft beer and spirit group, which went into administration on July 22, owns 25 per cent of fast-growing zero carb brewer Better Beer along with gin business Kangaroo Island Spirits.are the two comedians, Jack Steele and Matt Ford,

Documents lodged on August 6 with the Australian Securities and Investments Commission gave a snapshot of the financial position of Mighty Craft, after it called in administrators Ankura Consulting.Pure Asset Management, a Sydney-based boutique convertible bond fund is listed as the largest creditor. It is owed $22 million.Pure Asset Management has a 7.5 per cent stake in Better Beer through a debt-for-equity swap deal that was struck in June.

 

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