Food waste processing startup Goterra will be wound up and liquidated, after its administrators received no viable proposals to preserve the growing but loss-making business.
Teneo’s Daniel Walley and Martin Ford will serve as liquidators, according to a notice published by the Australian Securities and Investments Commission (ASIC) on Thursday.
Goterra collapsed into voluntary administration in June, with a company spokesperson saying the business exhausted its cash runway while seeking the investment it needed to scale.
Walley and Ford, who were earlier tapped as joint administrators, further detailed…