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Lixir enters liquidation
UK-based mixer company Lixir Drinks entered liquidation last month following “immense challenges” including the pandemic and Brexit.
Writing on LinkedIn yesterday (16 August), co-founder and head of commercial Matt Mahatme said: “I never envisaged writing this post, but last month we made the difficult decision to place Lixir into liquidation.
“It’s been a rough few weeks, but if I’m honest it’s been an even tougher year leading up to this. There have been immense challenges that despite our best efforts, we couldn’t overcome.
“With any challenger brand, you are up against it from day one, competing with giants, but even more so with the relentless headwinds faced by the industry. A global pandemic, lockdowns, war, Brexit, cost of living crisis – the list goes on. It’s been exhausting.”
Mahatme thanked the business’ shareholders and added: “It hurts so much more knowing we didn’t make it work for you because we wanted that as much as for ourselves.”
Lixir was founded by Mahatme and Jordan Palmer through a crowdfunding campaign in 2018. The duo hoped to create a line of ‘big flavour’ mixers with less sugar, fewer calories and nothing artificial.
Palmer posted on LinkedIn: “The past few months have been some of the most difficult since Matt Mahatme and I launched the business from our flat back in 2018. Our industry, like many others, has faced huge headwinds in recent times and in the past year our costs have soared.
“Despite having products listed in some of the best venues and retailers up and down the country, these challenges in the end have been too difficult to overcome, and devastatingly we made the decision to place Lixir into liquidation last month.”
The company secured £1.1 million (US$1.3m) in funding to support its expansion plans in 2022, when the brand was available in 18 markets. It became the UK’s first B Corp-certified premium tonic and mixer brand in the same year, owing to its ‘planet-positive’ strategy and work with charity partner Just a Drop.
Earlier this month, New Zealand-based mixer company East Imperial also entered liquidation.
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