Sydney Beer Co, a boutique brewer backed by former international cricketer Brett Lee, owes almost $10 million to creditors, including its chairman, the Australian Taxation Office and the McGrath Foundation.
The company’s largest creditor is an entity operated by Sydney Beer Co chairman David Catterall, which is owed $6.2 million via a related party loan. The ATO is owed $1.29 million, and business finance group Spenda Co, listed as the only secured creditor, is owed $280,000.
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clarification —
Editor’s note: An earlier version of this story described Brett Lee as a co-owner of Sydney Beer Co. It has been updated to reflect comments from his lawyers that his shareholding has never exceeded 5 per cent.
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
