A $21m hearing healthcare company has gone bust, blaming a fallout with a key supplier for its woes.
ASX-listed Nuheara Limited, which specialises in a wireless earbud that allows customers to augment their hearing, announced its move into voluntary administration late on Wednesday afternoon, appointing KPMG administrators to take control of the firm.
“The decision was taken by the board to best enable the company to conclude its ongoing strategic review, given the impending maturing of its $2.5m convertible note,” the company stated.
“This convertible note is held by Realtek Semiconducter Corporation and has a maturity date of September 7, 2024.
“The company is disappointed that it has been unable to reach a satisfactory…
