TasFoods urges Government assistance as Administrators called in

The Board of TasFoods has urged Government assistance as they today called in the Administrators.

In a statement to the Australian Stock Exchange, the Board of TasFoods announced that they had appointed KPMG partners Tim Mableson, David Hardy and Emily Seeckts as voluntary administrators of the business.

"Following the unsuccessful attempt to sell the Nichols Poultry business, the Board of TasFoods has determined has determined that Voluntary Administration is now the most appropriate way to restructure the Group", the company said.

"Control of the Group now rests with the Administrators who intend to continue to trade on a business-as-usual basis while options for a going concern sale or recapitalisation are explored.

"The Board has taken every step it could to find a buyer for the Nichols Poultry business. We continue to urge assistance from the State and Federal Governments to support the ongoing operation of Tasfoods and our hundreds of staff, suppliers and customers through the administration process."

The company has failed to book a profitable year since being established in 2015, selling off Wasabi, Betta Milk and Meander Valley Dairy in 2023, and then Pynegana Dairy last year.

It booked a $10.5 million loss in 2024 and is yet to release its 2025 results.

A creditors meeting will be held on 23rd March.