
What ever side you agree or disagree with is beside the point in terms of this blog but if you want some other reading here a few articles to start you off (NBR, Guide2)
I wondered what the reasons where for the change as I thought the previous logo was good, if they wanted a change and found that Lion Nathan decided on the change earlier this year also that it's online sales are poor (although they have yet to change the site significantly).
The most obvious change is the move from 'Liquor King' to 'LK'. Many logo design blogs have discussed the change from established name to a acronym or nice-name. Although I don't think they intend people to start referring to them as LK, I don't think the brand is recognisable as just LK, the combination of the colours helps to distinguish the brand.
Another change is the removal of the crown motif, replaced by bubbles forming a New Zealand map. The current trend of the addition of gradients, bevels and 3D effects was not missed too. I found the crown to be a solid mark conveyed what Liquor King meant 'bubbles and a crown'. The new logo which is of a badge which maybe... a jug being poured?
I think keeping the old motif and changing the typography would have been enough, redesigning the store too, to help with a brand new feeling. I think the site is lacking at the moment, in terms of interface design and probably should have been the first thing invested in, rather than a logo that will need to be updated in a few years time.

Sorry for the poor new logo image was hard to track down.