Cooroy bottled water firm back in business

The bottled water company Cooroy Mountain Spring Water on Queensland's Sunshine Coast has a new owner.

The company collapsed in 2011 with debts of about $20 million.

Up to 100 people lost their jobs.

Cooroy businessman Peter Lavin bought Wimmers Softdrinks as part of the sell-off last year.

He has now acquired the water company.

"We'll have to start from scratch, so you start off with minimal and build up as you crank up," he said.

"The whole thing was a going concern and had a good market share and then it was destroyed."

Mr Lavin has been trying to complete the deal for almost two years.

"We've hung in there and we've got it now," he said.

"This is a bit more difficult because at least Wimmers was operating at the time when we took over."

He expects the company to start producing bottled water again within months.

Source: ABC News, 26 July 2013