Setbacks weigh on paleo firm
Paleo food company Riot Foods, which was cofounded by The Bachelor NZ star Art Green, has gone into voluntary administration.
The company sells cereal, protein powders and dried meat snacks under the CleanPaleo and Poppy and Olive brands.
It has encountered a series of hurdles over recent years.
Co-founder Ryan Kamins resigned as chief executive and director in November, citing alcohol addiction. A year earlier co-founder Mitchell McClenaghan left the business.
Robin Chemlay and Green are now listed as the only directors.
In September, Kamins informed its shareholders in a letter that it needed to raise $1 million in two weeks, or sell the business, following ‘‘significant challenges’’ with its factory after damage to the facility caused it to miss production deadlines, the company claimed.
‘‘The damage caused in a recent incident at one of our manufacturing sites resulted in damage to our machinery. This has had a significant impact on the production of our products and in turn, has affected our sales in Australia and New Zealand,’’ he said at the time.
Riot Foods claims to supply more than 250 major supermarkets, producing ‘‘from our own gluten-free manufacturing facility’’ and exports to the United States, Australia and Singapore.
It raised $1m in a crowdfunding campaign in early 2018.