The Aussie Plant Based Co., makers of popular plant-based food brands Love Buds and vEEF, has entered into liquidation.
Following a general meeting of the members of the company on 9 October, it was resolved that the company be wound up and that Kenneth Whittingham and Mark Robinson of Fort Restructuring be appointed liquidators of Fenn Foods Pty Ltd, trading as Aussie Plant Based Co., and Love Buds Pty Ltd.
Whittingham confirmed to C&I that the business has been closed for cashflow reasons but said Fort Restructuring is in discussions with three interested parties who are keen to move quickly to restart, possibly within the week.
The move comes roughly a year after vEEF and Love Buds merged to create Aussie Plant Based Co., with goals of accelerating the adoption of plant-based alternatives in Australia and ambitions of expanding into the Asian and Middle Eastern markets.
The company has over 6,000 distribution points nationwide and a state-of-the-art manufacturing hub on the Sunshine Coast.
This article will be updated as more information is provided.
To stay up to date on the latest industry headlines, sign up to the C&I e-newsletter.