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In short:
An appointed administrator overseeing the historic brewery says he's "optimistic" a buyer can be found for the business despite its financial woes.
Thirty staff were made redundant following the announcement the brewery entered voluntary administration on Wednesday.
What's next?
Administrator's say they will keep the business operating while they seek a buyer.
Administrators appointed to oversee the operation of troubled historic brewery Billson's, say they are 'optimistic' for the company's future.
On Wednesday Billson's Brewery announced the business had been put into voluntary administration citing "mistakes" relating to systems and processes "keeping up" with the business in the decision.
One of the appointed administrators for the business, Rob Smith of McGrathNicol , told ABC Statewide Mornings the reins to Billson's Brewery had been handed over.
"As administrator we effectively step into the shoes of the directors in many ways," Mr Smith said.
"[We're] trying to keep trading the business as best as we can and ultimately look to sell or recapitalise the business to put it back into solvent hands for the future."
Thirty redundancies were announced at the brewery on Wednesday with 50 staff remaining employed to continue trading while the administrators restructure the company.
'Growing pains'
Mr Smith said while there were some redundancies, he hopes to retain staff.
"It is a very disruptive process, administration, and we did have to make some redundancies yesterday, but I'm very optimistic about the future of Billson's after or through the administration process.
"The community support we had yesterday was overwhelming for the business and for Nathan and Felicity [the owners]. The business did almost an all-time high of sales over the website yesterday, the venue was full, so the community support has been great.
"With that and the momentum that the business had last year up until the difficulties that hit, we're reasonably optimistic, that we can position the business for sale."
He said the speed at which Billson's grew from when it was purchased may have been difficult to financially manage.
"I think this business has grown extraordinarily from the time Nathan and Felicity bought it in around 2018... with any business that grows that quick, there are often these sorts of growing pains," he said.
"The administration process does offer an ability to perform some restructuring, some right-sizing.
"[it can make] certain improvements to put the business on a better footing hopefully to go again in the hands of a new owner or perhaps existing ones going forward."
On Wednesday, a nearby Wodonga brewer pointed to the twice yearly increasing alcohol excise as a big challenge for smaller brewers, however Mr Smith said he didn't think the excise would affect the sale of the business.
The federal treasury department was contacted for comment on the alcohol excise.
Local tourism under pressure
The President of the Beechworth Chamber of Commerce, Katrina Witherow, said the announcement that Billson's was put under administration caught the community off guard.
"It's a major employer of the town, so obviously it's going to have a huge effect on locals, and obviously it draws a lot of tourism to town," she said.
"We don't want any of our businesses to go into voluntary administration or close their doors, but over the last few years since COVID happened, we've had a lot of businesses close, major businesses closed, and it is having an effect on Beechworth as a tourist destination."