A Sydney-based cookie company owing millions in debt to creditors and staff has been plunged into administration.
The Spotted Cow Cookie Company was taken over by administrators SV Partners last month.
The administrators have taken over operations and has advertised the business for sale as they liaise with other companies in purchasing the company’s business and/or its assets.
Staff are owed more than $1.1million combined in wages, superannuation and annual leave, according to the administrator’s estimates.
They have also noted inaccuracies in the company’s historical payroll processes.
‘We identified instances of the companies not applying the applicable award correctly, e.g. minimum wage rates, weekend rates, overtime, casual loading, shift rates, and penalties,’ the report states.
The Spotted Cow Cookie Company has been placed into administration
Founded in 2004 by Tahnee Walters, Spotted Cow Cookie Company was once hailed the next big thing in baked treats.
The business was also once the preferred cookie supplier for airlines Qantas and Virgin Blue, now known as Virgin Australia.
The company was taken over by new owners in 2018 following Ms Walters’ death.
At the time, Spotted Cow treats were sold nationwide at Caltex, Events Cinemas, Gelatissimo and hundreds of independent retailers.
More to come.
