Food packaging company in administration as high dollar, falling prices bite
Wednesday, February 15, 2012/
A food processing and packaging company has been placed in administration, as pressure continues to mount on both manufacturing firms and food suppliers as the market leaders continue to cut their retail prices.
The move comes just days after an office furniture manufacturing firm collapsed, and within months of other food processing companies collapsing including Clyne Foods, Victoria Foods Group and fruit and vegetable supplier Addamo.
BlueLeaf Food Group, which appears to trade as “Nature’s Selection”, has been placed in administration with partner Quentin Olde appointed as administrator.
Expressions of interest have been called for by the firm, which states the business has a projected revenue of $4 million for the 2011-12 financial year, along with a workforce of more than 30 employees, production lines for retail packaging, vitamin blending, packaging and dry mixing,
It also has high security leased premises, along with on-site research and development facilities.
Travelling to Blueleaffoodgroup.com defers to the Nature’s Selection site, where the company states it has provided a wide range of food manufacturing and marketing services for the industrial and food service sector, along with retailers.
“Our manufacturing capability extends to world-class dry mixing, packing, manufacturing, warehousing and distribution of food ingredients and finished products,” it states on the website.
BlueLeaf was contacted this morning by SmartCompany, but no reply was received prior to publication.
Nature’s Selection is also listed by the Australian Securities and Investments Commission as being in administration. On its website, the company notes Nature’s Selection is a subsidiary of AAB Holdings.
According to ASIC, AAB Holdings was hit with a wind-up notice on January 23.
The collapse comes as the manufacturing sector has suffered over the past two years as the dollar continues to rise, with experts warning tens of thousands of jobs are at risk unless the industry can receive assistance or transform.