Melbourne-based material science company Great Wrap has entered into voluntary administration with reported debts of $39 million, almost six years after the founders officially launched their direct-to-consumer brand in 2020, which resulted in 30,000 orders in the first month.
Great Wrap co-founder and CEO Jordy Kay announced on LinkedIn on Thursday afternoon that, given the circumstances, the Australian startup’s story had come to a conclusion and thanked those who had supported the company’s journey.
According to ASIC’s published notices, administrators were appointed almost a month ago on September…