An Australian fresh food distribution company has gone bust for a second time in less than two years with up to $20 million in debt and 1,000 creditors owed money. In2Food Group was placed into voluntary administration on Tuesday with HLB Mann Judd overtaking management of the company. It had supplied fruit and vegetables to cafes, restaurants, aged care homes and commercial kitchens.
HLB Mann Judd partner Todd Gammel stated that the Sydney and Melbourne operations of the company had already ceased trading before it was appointed with around 200 jobs impacted at these sites alone. Overall, there were around 350 jobs at risk, Mr Gammel said but his firm was currently undertaking an urgent assessment to understand the situation.
“The other businesses around Australia have continued and we are urgently looking at how we can fund those businesses to keep them going or for someone to buy them,” he said.
Mr Gammel said attempts by In2Food Group to expand by buying other business had not worked and contributed to its collapse.
Source: news.com.au