foodora Australia Pty Ltd have appointed Simon Cathro and Ivan Glavas of Worrells Solvency and Forensic Accountants as Voluntary Administrators, effective immediately.
Since May 2015, foodora has operated a food delivery service in Sydney, Melbourne and Brisbane. On 2 August 2018, foodora’s parent company, Delivery Hero SE, announced the intention to exit four countries, including Australia, to consolidate and focus on leadership positions in other markets.
While foodora’s intention was to wind down its affairs in Australia in an orderly fashion and with the support of its parent company to meet all known liabilities, the company has been faced with significant external challenges. These have impeded the company’s ability to implement a solvent wind down of its affairs.
The voluntary administration process offers the company essential breathing space, including a statutory moratorium on claims against the company, with a view to ensuring that the affairs of foodora are administered in a way which results in a better return for creditors of foodora than would result from its immediate liquidation.
foodora wishes to acknowledge the support of its employees, partner restaurants and contract riders over the last three years. To the best of its knowledge, all payments due to foodora’s creditors, in particular, its employees, partner restaurants and contract riders, have been met.
Creditors will be updated on the financial affairs of the company at the first meeting of creditors, which is due to be held not before 29 August 2018.
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