A major brand manufacturer behind some of ‘s most-used cleaning products has collapsed with up to 120 staff now unemployed.
Hiro Brands owns a range of cleaning and cosmetic brands such as Orange Power, Organic Choice cleaning products and Aware Sensitive washing powder.
Many of the brands are sold in major supermarkets such as Coles and Woolworths.
The company went into voluntary administration on January 2, with KPMG’s David Hardy, James Dampney and James Stewart appointed as administrators.
Mr Hardy said in a statement that administrators had ‘ceased operations after completing an urgent assessment of its financial position’.
‘Regrettably, following our appointment it became evident the financial position of the business would not allow the continuation of trading activities,’ he said.
‘As a result, we have terminated most employee’s employment arrangements.’
Hiro Brands owns a range of cleaning, cosmetic and personal-care brands such as Orange Power, ulta3, Organic Choice, Aware Sensitive and Trix (some are pictured)
Mr Hardy said ’employees have been advised the Group is not able to continue their employment’.
Sister companies Chimera Laboratories Pty Ltd, Doward International Pty Ltd, Greencare Developments Pty Ltd, Scental Pacific Pty Ltd, The Heat Group Pty Ltd, Aware Environmental Pty Ltd and Aware Environmental Products Pty Ltd have also entered administration.
Up to 120 people previously employed at the companies have been sacked.
Mr Hardy said they are ‘urgently’ looking for a buyer for Hiro Group’s assets and intellectual property with a creditors meeting to be held on January 11.
Administrators will work with stakeholders, employees, suppliers and customers.
The group’s debts are yet to be calculated, however due to the size of the company the amount is expected to be in the millions.
The n Financial Review valued Hiro Group at $50milllion in 2020 with the company previously on track to make $70million in revenue in 2024.