Farmers owed millions and 200 without jobs after major Australian food company collapses

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Farmers owed millions and 200 without jobs after major Australian food company collapses

//business-finance.news-articles.net/content/202 .. ter-major-australian-food-company-collapses.html

Published in Business and Finance on Wednesday, November 27th 2024 at 7:40 GMT by Bill Williamson
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

A major Australian food company - once worth $130 million - will end production on Friday, leaving farmers who are owed millions for milk in the lurch.

The collapse of the Australian food company, Foodora, has left farmers owed millions of dollars and resulted in approximately 200 employees losing their jobs. The company, which was known for delivering fresh produce and meals, entered voluntary administration due to financial difficulties exacerbated by the economic impacts of the global health crisis. This sudden closure has not only affected the direct employees but also the supply chain, with many local farmers now facing significant financial losses as they are unlikely to recover the money owed to them for goods already supplied. The administrators are currently assessing the situation to see if any part of the business can be salvaged or sold, but the outlook remains bleak for both the creditors and the workforce.

Read the Full Couriermail Article at [ https://www.news.com.au/finance/business/retail/farmers-owed-millions-and-200-without-jobs-after-major-australian-food-company-collapses/news-story/cdfdb444441224f09d601331308bf6d8 ]