Australias largest producer of certified organic milk, Organic Dairy Farmers of Australia (ODFA), has entered voluntary administration. It is estimated it has more than $11.5 million in debts.
The co-op is 100 per cent owned by 40 family farmers, supplying milk from three main dairy regions of Victoria, central and north-west Tasmania. It provides milk for 5am Yoghurt, Lemnos and Pure Organic Milks. It also has a milk bottling factory in Geelong where it produces butter and other dairy products. The factory employs more than 20 people.
Worrells Solvency and Forensic Accountants were appointed administrators, which has subsequently been passed to Deloitte.
Deloitte told the ABC ODFA owed National Australia Bank $8 million and unsecured …
Read the full article at: https://www.foodanddrinkbusiness.com.au/news/largest-organic-milk-producer-in-voluntary-administration-owes-millions