When corporate calamity strikes as totally as it did what is now Noumi in 2020, the individual components of the ensuing unravelling can escape notice.
In 2020, the then-Freedom Foods discovered it had let $60 million worth of milk inventories go off without anyone’s notice. The accounting scandal only grew (considerably) worse from there. And now the renamed company has told shareholders it needs a new auditor.
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Myriam Robin is Rear Window editor based in the Melbourne newsroom. A Rear Window columnist since 2017, she previously reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com
