Family-owned food company Nourish Foods, makers of Whole Kids, has entered into voluntary administration as it struggles to maintain working capital and keep the business afloat.
The company launched a third equity crowdfunding campaign via Birchal in May, which was put on hold.
Tim Heesh and Mark Everingham of TPH Advisory have been appointed voluntary administrators for the company and are now urgently seeking potential investors or buyers.
The owners had been attempting to secure a financial investment partner over the past few months, explained Heesh.
However, time has run out, and their working capital requirement has become urgent.
Established in 2005 by Monica and James Meldrum, the Melbourne-based company manufactures a rang…
Read the full article at: https://insidefmcg.com.au/2023/09/06/nourish-foods-enters-voluntary-administration/