Zega cookware goes into administration
An Australian cookware company has gone into voluntary administration just three years after it started making claims about how revolutionary its products were.
Zega appointed administrators on March 8, according to documents filed with the Australian Securities and Investments Commission.
The products are promoted as ‘self-cooking’ pots, which allow the user to put the ingredients in the pot, heat it up, then turn off the stove and let it cook.
When it launched to much publicity, Zega claimed to have created “the world’s first intelligent, walk-away cookware,” which allowed users to put ingredients in the pan, heat it up, then turn off the stove and bring it to the boil leave. keep cooking
But a year after its founding, the company received unwanted publicity when consumer organization CHOICE presented it with a Shonky Award for its $299 Digital Pot.
Australian cookware company Zega has gone into voluntary administration just three years after it started making claims about how revolutionary its products were. A woman is shown using a Zega pot
CHOICE kitchen expert Chantelle Dart said the chicken she tried to cook according to Zega’s instructions came out raw.
‘It really disappointed us. When our experts cooked chicken according to the Zega app recipe, the chicken was partially raw, the sauce was watery and the vegetables were undercooked,” she says.
Zega responded at the time, saying very few complaints had been received or pans returned, and offered to speak to CHOICE about Ms Dart’s cooking problems.
“We have received numerous positive reviews from customers who absolutely love their Zega, and we have received numerous positive media reviews from highly experienced journalists who have thoroughly tested our cookware,” the report said.
‘We were surprised when we heard from CHOICE about their experience cooking the coq au vin. Unfortunately, the CHOICE reviewer in question declined our offer to discuss her concerns over the phone.”
TPH Advisory administrator Mark Everingham said the company, which sold about 7,000 jars in the past three years, had new products in development.
“The company has been placed into voluntary administration due to a lack of working capital required to support the business strategy, together with a decline in sales,” he said in a statement.
“The owners had been trying to find a financial investment partner for the past few months, but time was running out and their need for working capital became urgent.”
Mr Everingham said Zega represents an ‘excellent strategic opportunity’ for investors to acquire a company with the potential to become a ‘household name’.
Submission of expressions of interest closes on Friday 5 April.
Zega appointed administrators on March 8, according to documents filed with the Australian Securities and Investments Commission. A woman is shown using a Zega pot