Retail giant Officeworks says it was proud to have invested in brisbane-based social enterprise Circonomy, which entered creditorsâ 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 âvery sadâ and acknowledged all of Circonomyâs employees for their âhard work and contributionâ.
At the same time, the office suppliers retailer said it remains committed to participating in the circular economy and âfinding opportunities to transform what may be seen as waste, into valuable resourcesâ.
Circonomy founder Yas Grigaliunas shared the âdifficult decisionâ to place her business in liquidation on LinkedIn, in a statement that referenced the ânationâs retail downturnâ.
âDespite the best endeavours of the team to increase sales and reduce costs, the business was no longer financially viable,â said the company.
Related Article Block Placeholder
Article ID: 243694
Liquidators from BRI Ferrier were appointed to the business on October 4,…
