An Australian company that produces wellness products for mums and a range of handcrafted fudge has gone into receivership.
Halo Food Co Limited, trading on the ASX as HLF, has gone into administration with David Hardy, Ryan Eagle and Emily Seeckts from KMPG Australia appointed receivers last Friday.
A statement on the ASX on Friday also announced KordaMentha have been appointed as voluntary administrators.
“The receivers have now assumed day-to-day control of the Halo Group,” a KPMG spokesperson said.
“An immediate sale campaign to recapitalise or acquire the assets of Halo Group has commenced.”
Halo Food is parent company to a number of entities, including Halo Manufacturing Pty Ltd, Halo Food Co. Trading Pty Ltd, and Omni Brands Pty Ltd.
Brands under Halo Food include The Healthy Mummy, which produce wellness products for mums, “premium functional beverage brand” Tonik, powdered milk producers Key Dairy and Gran’s luxury fudge makers.
“Based in Sydney and Melbourne, Australia and Christchurch, New Zealand, Halo Food Co. is an established brand owner and manufacturer and exporter of formulated dairy and non-dairy nutritional products and health and wellness brands,” reads the Halo Food website.
By the time a trading halt was put on HLF shares on Thursday morning, its share price was just $0.007.