MELBOURNE / LONDON (IT BOLTWISE) – Yume Food, an Australian startup specializing in food redistribution, is facing liquidation after ten years. Despite impressive successes in reducing food waste and supporting local producers, the company is now facing financial challenges.
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Yume Food, an Australian startup specializing in food redistribution, is facing liquidation after ten years. The company, founded in 2015 by Katy Barfield, aims to reduce waste in manufactured food. Over the years, Yume Food has redistributed 11.5 million kilograms of high-quality food, avoiding 44 million kilograms of CO₂ emissions and saving 2.5 billion liters of embedded water.
Yume Food’s digital commerce platform generates additional revenue for food manufacturers by selling surplus products and facilitating the donation of unsold food to relief organizations. Corporate customers include major FMCG companies such as Mars, Unilever, Kellanova and General Mills. Despite these successes, Yume Food is now facing financial challenges that have led to the company’s liquidation.
Rebecca Gill of Teneo Financial Advisory Australia, who was appointed as liquidator, said an immediate sale process would begin. She sees potential for Yume to continue as a going concern. However, investments in the platform put unexpected pressure on working capital, which ultimately led to the decision to cease operations.
Katy Barfield, the founder of Yume Food, was emotional and proud of the achievements on LinkedIn. She emphasized that the company achieved more than just numbers: “It is people fed, emissions avoided, industries supported, a system challenged and ultimately transformed.” Barfield, who previously developed food rescue organization SecondBite, raised $7 million for Yume. Despite the challenges, she remains committed to the mission behind Yume and plans to take some time off in the near future to recover and refocus.
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