Wholesale food distributor Victoria Foods Group has been placed in receivership, with receivers calling for urgent expressions of interest for both the business and its assets.
Rob Kirman, Sam Davies and Johan Vorster of McGrathNichol have been appointed receivers and managers of the group.
Up for grabs are purpose-built office and warehouse facilities with frozen and fresh storage capabilities across the east coast; plus stock, and plant, equipment and motor vehicles.
McGrathNichols says the Melbourne-based business also has established international and domestic supplier and customers relations.
Attempts to contact management this morning were unsuccessful, although the company appeared to be operating.
The collapse follows news one of Australia’s largest food and vegetables growers, Barbera Farms, was placed in the hands of Justin Walsh and Chris Munday, partners at accounting firm Ernst & Young by secured creditor Suncorp.
The bank said in April it had supported Barbera Farms for an “extended period of time” through “difficult trading conditions” before its decision to bring in receivers and managers. The Queensland-based business turned over more than $73 million last year.
In March, iconic Melbourne cake manufacturer Susan Day Cakes was placed in administration. Sources suggest up to 80% of the company’s revenue was derived from Woolworths and Coles. And earlier this year, the collapse of commercial refrigeration manufacturer Frigrite was blamed on the loss of key contracts with Coles and Woolworths.
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