A leading Australian fruit exporter has collapsed with debts in excess of A$10m (US$9.25m).
Mildura-based JAK Fruit Pty Ltd, run by managing director Jason Kotz, went into voluntary administration on Tuesday 27 April, the Sunraysia Daily reported.
The company's primary interests were exporting citrus and table grapes, and it also exported avocados.
Administrator Wayne Benton from Melbourne-based insolvency company BRI Ferrier said Mr Kotz had called his firm to ask them to take control of the company, with JAK Fruit owing growers A$4.1m and its banks around A$6m.
On Wednesday, JAK Fruit's Mildura head office was stripped and a ‘For Sale' sign placed outside.
In April last year Fruitnet.com reported that the firm had moved into farming, with the self-funded acquisition of an 80ha plantation in Nangiloc, in the Sunraysia region.
Mr Benton said he was hopeful growers would receive all the money they were owed but stressed that 'would be contingent on a few things'.
