Melbourne’s Fury & Son is the latest brewery to close as a slowing craft beer market and economic conditions continue to impact the industry.

In a Facebook post yesterday, father and son owners Andrew & Reno Georgiou said the decision came with “a sense of both reflection and anticipation”.

“After 8 years of serving the Victorian beer community with dedication and passion, we have reached a pivotal juncture where new opportunities beckon and it’s time to embark on the next chapter,” the post said.

“The decision to close our business was not an easy one, however we are excited about the opportunities that lie ahead.

“The landscape of business is ever-evolving, and it is vital to adapt and embrace new challenges.

“We are confident that the experiences and knowledge gained during our time in operation will be invaluable in pursuing new ventures and endeavours.”

The decision to close the business comes as brewers, hopeful of a return to a pre-COVID market, are increasingly reporting disappointing sales against a backdrop of increasing costs in a market that has already seen a number enter administration, and listings for brewery sales increase.

Attendees at the recent Craft Brewers Conference in the United States heard that no market growth was the new normal, and focusing on new strategies was the way to growth.

At the same time, breweries continue to open and progress through the planning stages, with 661 physical breweries currently operating in the country.