Beverages together with Rose River Beverages, Summertime Fruit Juices and Summertime Asset Management have a combined turnover of $20 million and appointed administrators, PPB Advisory are now seeking expressions of interest to recapitalise the business or sell its assets as a matter of urgency.According to Smart Company, Private Branded Beverages has not traded for a number of months and was in the process of attempting to raise capital to avoid closure.
It is understood that staff of the company have either been terminated or stood down.
Barry Wight of PPB Advisory said that it was too early to determine the reason for the company’s collapse.
“There has been interest today from a number of parties, indicating a willingness to recapitalise or acquire the assets,” Wight told Smart Company. “The process is underway.”
Private Branded Beverages manufactured a range of alcoholic and non-alcoholic beverage products and operated in facilities located in NSW and Victoria.
