Madeleine Heffernan
September 24, 2013
The Age
Tasmanian dairy company Tamar Valley Dairy, which supplies branded products to Coles and no-name products to Aldi supermarkets, has collapsed.
Deloitte Restructuring Services was this week appointed voluntary administrators to the company, which employs 170 people and is located near Launceston.
Deloitte Restructuring Services partner Glen Kanevsky said the 17-year-old business operated in an ‘‘extremely competitive sector’’ and had been ‘‘challenged by a slowdown in sales and pressure on margins.’’
‘‘We are currently examining the trading position of the business and will be working closely with all key stakeholders to allow the business to continue to operate as normal,’’ he said in a statement.
Tamar Valley Dairy referred questions to Deloitte. Its website has been taken down.
A spokesman for Deloitte declined to comment on how much money was owed and to whom, but a creditors’ meeting is scheduled for October 2 in Launceston.
According to documents from the Australian Securities and Investments Commission, the company’s directors and owners are Guaraci Matteo and Teresa Matteo.
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