Retail giant Officeworks says it was proud to have invested in brisbane-based social enterprise Circonomy, which entered creditors’ voluntary liquidation at the end of last week.
Officeworks was a long-time partner of Circonomy and formalised this partnership by taking a 21% stake in the business in early 2022.
On Tuesday, a spokesperson for Officeworks told SmartCompany the liquidation of Circonomy is “very sad” and acknowledged all of Circonomy’s employees for their “hard work and contribution”.
At the same time, the office suppliers retailer said it remains committed to participating in the circular economy and “finding opportunities to transform what may be seen as waste, into valuable resources”.
Circonomy founder Yas Grigaliunas shared the “difficult decision” to place her business in liquidation on LinkedIn, in a statement that referenced the “nation’s retail downturn”.
“Despite the best endeavours of the team to increase sales and reduce costs, the business was no longer financially viable,” said the company.
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