The Australian company behind the once-viral energy drink Prime has been placed in voluntary administration, amid reports it has only $85,000 left in the bank.
Prime burst onto the scene in 2022 and quickly gained popularity due to endorsements from social media influencers, including Logan Paul and KSI.
The drink is one of several brands launched by Congo Brands in the US and Australia.
However, the Australian arm of the business, Congo Brands Australia, entered voluntary administration on July 7, according to a notice published by the Australian Securities and Investments Commission (ASIC).
Alice…