The makers of a popular Australian-made protein ball have gone into administration, blaming debts from a failed US expansion. 9News
Husband and wife Paula and Andy Hannagan founded Bounce Foods in 2004 and the company has since expanded to include protein bars and cookies, chocolate, keto bars and even a tie-up with ice cream maker Weis. According to its UK website, one ball is sold every 1.9 seconds globally.
He blamed them on a failed US launch in 2016, costing the company about $6 million and hurting its efforts to secure capital to run the Australian business. Natural High Co told financial services regulator ASIC on July 11 that a winding-up application had been made, before revealing three days later external administrators had been appointed.Bounce Foods was founded in 2004 and the company had expanded to include protein bars and cookies, chocolate, keto bars and even a tie-up with ice cream maker Weis.
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