Milk brand sold in Coles and Woolworths suddenly goes bust – here’s why
- Made by Cow product will vanish from shelves
- Aussie company in voluntary administration
- Due to supply chain issues and soaring inflation
A milk brand sold in Coles and Woolworths has plunged into voluntary administration.
Made by Cow – which sold ‘the world’s first cold pressed raw milk’ – announced in a statement on Saturday that it had gone bust.
The company said it was a victim of the uncertain economic environment including surging interest rates and inflation, plus supply chain issues.
‘It is with a heavy heart that we inform you that from yesterday, Made By Cow will be closing its doors and has gone into voluntary administration with KordaMentha appointed,’ company chief executive Wade Porter said a statement.
Made by Cow products will disappear from supermarket shelves after the company went into administration
‘We are proud of our incredible journey and to have created a truly innovative product that was enjoyed by thousands of loyal customers.
‘In recent years we have been on a strong trajectory with our business growing upwards of 50 per cent year-on-year.’
‘In this climate of uncertainty, growing interest rates and inflation, the business has faced economic uncertainty and supply chain challenges
The company added the decision to cease production was made with heavy hearts.
‘Our morning coffee will never be the same, but it’s sure been good while it lasted,’ the statement ended.
The decision comes eight months after the brand hiked up its milk prices due to increasing costs for milk, freight and labour.
Soaring interest rates and inflation, along with supply chain issues contributed to the demise of the Aussie brand
‘This was a hard decision, but something we had to do to not only remain a sustainable business, but to also ensure we pay a fair and premium price to our dairy farmers,’ Made by Cow announced last September.
Made by Cow launched its ‘cold pressed raw milk’ in 2016 as an alternative to heat pasteurisated milk and was hailed at the time as a gamechanger for the dairy industry.
It began selling the product across NSW and Victoria before expanding nationwide.
Made by Cow joins a long list of well-known Aussies brands to collapse in recent months.
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