Milk brand sold in Coles and Woolworths suddenly goes out of business – here’s why
- The Made by Cow product will disappear from the shelves
- Aussie company in voluntary administration
- Due to supply chain issues and rising inflation
A brand of milk 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 uncertain 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.
Made by Cow products disappear from supermarket shelves after the company goes bankrupt
“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.”
“In this climate of uncertainty, rising interest rates and inflation, the company has faced economic uncertainty and supply chain challenges
The company added that the decision to stop production was taken with a heavy heart.
“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 milk prices due to rising milk, freight and labor costs.
Rising interest rates and inflation along with supply chain issues contributed to the demise of the Aussie brand
“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 last September.
News of the collapse has devastated Made by Cow fans.
“This is terrible, the only milk our family drinks that we buy extra when we go on vacation and can’t get it anywhere.
“I’m so sorry and I’m so sorry, your product and brand were innovation at its best and it’s so important to have movers and shakers in the industry.”
Another said, ‘Nooooo! So sad to hear this. I loved having real milk available in supermarkets for our family.”
Made by Cow launched its ‘cold pressed raw milk’ in 2016 as an alternative to heated pasteurized milk and was hailed as a game changer for the dairy industry at the time.
It began selling the product in NSW and Victoria before expanding nationwide.
Made by Cow joins a long list of well-known Aussies brands that have collapsed in recent months.