On January 2, 2024, KPMG Australia’s David Hardy, James Dampney and James Stewart were appointed Voluntary Administrators of cosmetic, personal care and household brands operator Hiro Brands Ltd and related entities (the Hiro Brands Group).

Hiro Brands manufactures, distributes, and markets a range of personal care, cosmetic and household products, sold under a range of brands including, Organic Choice, Orange Power, Aware Sensitive, Trix, ulta3, MUD, Billie Goat and Aus Medic Co.

Local Hero – Interview with Steven Chaur, MD and CEO of Hiro Brands

The Voluntary Administrators have assumed day-to-day control of the operations of the Hiro Brands Group and have ceased operations after completing an urgent assessment of its financial position.

The Hiro Brands Group employs approximately 120 staff and employees have been advised the Group is not able to continue their employment.

KPMG Australia’s Restructuring Services Partner David Hardy said: “The Hiro Brands Group owns a portfolio of leading personal care, cosmetic, and household goods brands whose products are regularly used by Australian consumers.

“Regrettably, following our appointment it became evident the financial position of the business would not allow the continuation of trading activities. As a result, we have terminated most employee’s employment arrangements. We are urgently seeking buyers for the Hiro Brands Group’s assets, including brands and intellectual property. We will be working with all stakeholders, including employees, suppliers, and customers, to maximise the outcome.”

A first creditors meeting for the Hiro Brands Group is expected to be convened for January 11, 2024.

The Hiro Brands Group, encompassing several entities such as Hiro Brands Limited, Chimera Laboratories Pty Limited, Doward International Pty Limited, Greencare Developments Pty Limited, Scental Pacific Pty Limited, The Heat Group Pty Limited, Aware Environmental Pty Limited, and Aware Environmental Products Pty Limited, is now under the oversight of KPMG Australia’s Voluntary Administrators.

Read the current issue of our digital magazine below:

Leave a comment

Your email address will not be published. Required fields are marked *