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The plant-based meat alternative industry has taken a hit after one of its longest-standing Australian purveyors called in administrators, who have clarified that operations will still continue as normal at Proform Food Group while a rapid business assessment is made.
With approximately 30 employees and based in Mount Kuring-gai in northern Sydney, Proform Food Group manufactures products under the MEET, Protein Plate and Bad Hunter brands, and has been around since 2005 when it was founded by "plant-based evangelist" Stephen Dunn.
The company appointed KPMG Australia’s Gayle Dickerson and James Dampney as voluntary administrators on 22 May, covering the group and its subsidiaries Proform Innovation, Proform Gourmet and Proform Foods.
The administrators have assumed the day-to-day control of the group while the assessment is undertaken.
"Proform is a well-established business in a sector with compelling medium term growth prospects," says Dampney.
"As administrators, our focus will be on maintaining normal operations whilst commencing an expediated sale of business process.
"We will be working with all stakeholders, including employees, suppliers and customers, to maximise the outcome for all parties."
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