Online craft gin hotspot Gintonica has fallen into administration, becoming the latest boutique retailer to falter in a difficult economic environment for consumer-facing startups.
Documents listed by the Australian Securities and Investments Commission on Friday show Gintonica has appointed David Ross of I & R Advisory as administrator.
The first meeting of creditors will take place on July 3.
Launched in 2017 by distilling industry figure David Box, Gintonica billed itself as a “central resource” for consumers interested in Australia’s booming craft gin scene.
Along with an online bottleshop, Gintonica also offered monthly subscriptions providing enthusiasts with 50ml samples from leading craft distilleries, and a popular line of gin advent calendars featuring 30ml tasters.
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The company recently moved into the whisky sector with its WhiskyRocks offerings and sample packs.
Capitalising on the same equity crowdfunding wave which has seen massive investment in craft breweries and distilleries, Gintonica secured more than $240,000 in funding through Birchal as of June last year.
In May 2022, Box told Birchal backers that “exciting plans are underway” regarding a potential exit for the business.
Box officially announced Gintonica was officially up for sale last month.
“Time to pass the baton to fresh passion, new ideas and better skill sets,” Box wrote on LinkedIn.
Gintonica, its stock, and customer databases were up for sale, Drinkstrade reported, with Box saying he would continue supplying 50ml and 30ml bottling services to distillers under the Spirited Bottlers moniker.
Now in administration, Gintonica has suspended order processing, with customers awaiting shipments urged to contact the business directly.
SmartCompany has contacted Gintonica and I & R Advisory for comment.
The company’s administration comes less than two months after Kaddy Group, a B2B alcohol marketplace, called in its own administrators to oversee digital, delivery, and fulfilment operations.
BoozeBud, one of the first Australian D2C platforms to challenge the major bottle shops online, also tapped administrators in early May.
Surging delivery costs and shrinking margins have plagued digital retailers beyond the alcohol space, including grocery-focused Milkrun, which now operates as Woolworths’ rebranded rapid delivery service.
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
