Old Young's will be placed back in directors' hands after creditors of the award-winning Swan Valley distillery voted to approve a plan to pull the business out of administration.
The directors behind Old Young's Distillery are proposing to sell the land for their ambitious ‘cathedral of gin' dream to clear the business' debts and exit administration.
The award-winning Swan Valley distiller has entered voluntary administration, leaving its ambitious “cathedral of gin” project and hundreds of investors facing an uncertain future.
Old Young's Distillery has announced plans to build a venue in the Swan Valley, estimated to cost about $30 million, and launched a crowdfunding campaign to fund the project.
Swan Valley gin maker Old Young's Distillery reached its $2.7 million crowdfunding goal in less than a day as it seeks to expand its physical and online presence.
Western Australian distillers took home the majority of awards handed out at the 2016 Australian Distilled Spirits Awards last night, with Albany's Limeburners crowned as distiller of the year.
