One of Australia's most popular protein snack brands with a 'strong presence in the market' has collapsed after almost 20 years in operation due to being millions of dollars in debt.
Bounce Foods - a company best known for its protein balls – appointed administrators in a bid to save the business from insolvency after its owners attempted to extend operations into the United States, but the move brought on unsurmountable financial problems.
“Natural High Co went into voluntary administration due to a heavy debt burden, largely due to a failed attempt to successfully launch in the US in 2016, which cost the company $6 million,” Mr McInerney told 7News. “The founders, Paula and Andy Hannagan, are willing to support the brand, under the control of a purchaser, to ensure that it remains available to customers and reaches its full potential,” Mr McInerney said.
Bounce Foods was founded by an Australian couple in 2004, starting out as a small home-based local business operating out of a garage.
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