Milk brand sold in Coles and Woolworths suddenly goes out of business – here’s why
A popular milk brand sold in Coles and Woolworths has been plunged into voluntary administration.
Made by Cow – which sold “the world’s first cold-pressed raw milk” – announced in a statement Saturday that it had gone bankrupt.
The company said it was a victim of the economic climate, including rising interest rates and inflation, plus supply chain issues.
“It is with a heavy heart that we inform you that, effective yesterday, Made By Cow will be closing its doors and has gone into voluntary governance with the appointment of KordaMentha,” the company’s CEO Wade Porter said in a statement.
“We are proud of our incredible journey and of creating a truly innovative product that has been enjoyed by thousands of loyal customers.
“In recent years we have had a strong trajectory with growth of more than 50 percent on an annual basis.”
“Our morning coffee will never be the same again, but it sure has been good while it lasted,” the statement ended.
The decision comes eight months after the brand raised its prices due to rising milk, freight and labor costs.
“This was a tough decision, but something we had to do to not only continue to be a sustainable business, but also to ensure we pay our dairy farmers a fair and premium price,” Made by Cow announced at the time.
Made by Cow launched its ‘cold-pressed raw milk’ in 2016 as an alternative to heated pasteurized milk, which began selling products in NSW and Victoria before expanding nationwide.
