INVERCARGILL Brewery has attracted an interested buyer and negotiations are under way.
The business was forced into receivership last month when it failed to pay a secured creditor and as a result was deemed insolvent.
Dunedin-based receiver Trevor Laing has stepped in with his main priority to find the money to pay creditors. That included looking for a potential buyer for the well-established business.
Mr Laing confirmed they were working with an interested buyer, but said he was not in a position to elaborate further.
“We are in negotiations at the moment, and that is about all I can say.”
Mr Laing could not give a timeline on when he hoped to have a deal sorted.
Last week Invercargill Brewery’s Leet St premises and a work vehicle were tagged with graffiti.
On the door of the main entrance a person and a speech bubble was drawn which said “Pay Me”.
Invercargill Brewery’s financial struggles caught many people by surprise, with directors Steve and Amanda Nally growing the business and its brand over many years.
In 1999, Mr Nally leased a vacant dairy shed near Invercargill and set up the business. Six years later, when the brewery had outgrown that dairy shed, it moved to Wood St in Invercargill. In 2013, Invercargill Brewery made another move to an even bigger venue in Leet St, where it is now based.
In recent years, Invercargill Brewery had also developed the Leet St site into an entertainment venue in the quest to open up a different revenue stream.
Invercargill Brewery, which has part-time and full-time staff, is operating as usual at the moment while the receiver works through the negotiations.