The Aussie Plant Based Co., known for its popular plant-based brands Love Buds and vEEF, has entered liquidation following a member vote on October 9. Liquidators Kenneth Whittingham and Mark Robinson from Fort Restructuring have been appointed to manage the closure of Fenn Foods Pty Ltd and Love Buds Pty Ltd, trading under the Aussie Plant Based Co. umbrella.
Caught between “a stem of broccoli and a hard place,” the company’s cash flow issues signal ongoing challenges within the plant-based sector. Despite these difficulties, the Aussie Plant Based Co. had been a significant player, with over 6,000 distribution points nationwide and a state-of-the-art manufacturing hub on the Sunshine Coast. The company recently Listed its products in Woolworths throughout Australia featuring a new sausage range and aimed expand into Asian and Middle Eastern markets.
Source: Aussie Plant Based Co.
The situation might appear bleak, but there’s hope for consumers who value sustainable and ethical food options. Kenneth Whittingham confirmed Fort Restructuring is in talks with three interested parties keen to restart operations, possibly within the week.
For fans of vEEF and Love Buds, the possibility of a revival offers a glimmer of optimism. The swift action by Fort Restructuring and the interest from potential buyers indicate that Aussie Plant Based Co.’s mission to provide plant-based alternatives might still have a future, keeping these beloved products on Australian shelves.
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