An Australian company renowned for its production of wellness products tailored to mothers, as well as a variety of handcrafted fudge offerings, has unexpectedly entered a state of receivership.
Halo Food Co Limited, which trades on the ASX as HLF, recently underwent administration proceedings, with the appointment of receivers David Hardy, Ryan Eagle, and Emily Seeckts from KPMG Australia, all of whom were appointed on the preceding Friday.
A statement released on the ASX last Friday also unveiled the appointment of KordaMentha as voluntary administrators for the company.
A KPMG spokesperson shared, ‘The receivers have taken over the day-to-day management of the Halo Group. An immediate campaign to facilitate the sale and acquisition of Halo Group’s assets has been initiated.’
Halo Food serves as the parent company for an array of entities, including Halo Manufacturing Pty Ltd, Halo Food Co. Trading Pty Ltd, and Omni Brands Pty Ltd. Its brand portfolio encompasses The Healthy Mummy, a brand dedicated to producing wellness products specifically tailored for mothers; Tonik, lauded as a ‘premium functional beverage brand’; Key Dairy, specializing in the production of powdered milk; and Gran’s, a prominent producer of luxurious handcrafted fudge.
The company is headquartered across Sydney and Melbourne in Australia, as well as in Christchurch, New Zealand. Its offerings span a comprehensive range of dairy and non-dairy nutritional products and health and wellness brands, as highlighted on the official Halo Food website.
By the time trading for HLF shares was halted on Thursday morning, the share price had plummeted to a mere $0.007.
