Between 500-1000 jobs were at risk after a farming company in Australia went into voluntary administration.
HS Fresh Food, which markets its products in various countries, including Australia, collapsed on June 14.
Administrators from FTI Consulting, Ben Campbell, Joanne Dunn, and Vaughan Strawbridge, were appointed to oversee the company’s operations.
The company’s brands include Houston’s Farm, Sunfresh, and Gourmet Selections, which were known for their products being shipped to major retailers such as Woolworths and Coles.
In a statement, the administrators stated that they would seek to sell the company or restructure it.
They noted that the firm would continue to operate while it undergoes the administration process.
Vaughan Strawbridge, one of the administrators, stated that they were working with the company’s management team and other stakeholders to ensure that the business would continue to operate.
He also noted that a sale process had already been conducted for the company’s assets.
The administrators stated that they were working with various parties to find a solution to the company’s financial issues.
They also noted that they were confident that they would be able to complete a sale and recapitalization of the company in a short time.
Houston’s Farms was originally established in Tasmania.
It then expanded its operations in NSW, Queensland, South Australia, and WA.