Australian ready-made meal business, Fast Fuel Meals, has entered voluntary administration, with more than $20 million in creditor claims outstanding as the company considers a potential change of ownership.
The Sydney-based business, which has supplied ready-made meals through major supermarket chains including Woolworths and IGA, appointed Dane Skinner of Raft Consulting as administrator on 8 September, according to an ASIC notice. Trading had ceased on 3 August.
The creditor position was reported by 7news, which spoke with Skinner about the company’s financial position and the administration process. According to the report, Fast Fuel Meals currently has $7.43 million owed to secured creditors, $879,303 to priority creditors and a…