Hiro Brands, which makes some of Australia’s most popular supermarket cleaning brands, collapses

Up to 120 staff have been sacked after a maker of major Australian household cleaning brands collapsed, with a buyer now being sought for the business.

BREAKING

Aussie household brand manufacturer Hiro Brands has collapsed, with up to 120 staff sacked.

Hiro manufactures a range of well-known personal care, cosmetic and household products, such as Orange Power cleaning products, Aware Sensitive washing powder, Trix dishwashing liquid, Organic Choice cleaning and laundry products and the ulta3 cosmetics brand.

The company entered voluntary administration on January 2, appointing KPMG Australia’s David Hardy, James Dampney and James Stewart.

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Hiro Brands makes a number of popular Aussie cleaning and personal care brands.

In a statement provided to news.com.au, Mr Hardy said that the administrators had “ceased operations after completing an urgent assessment of its financial position”.

Sister companies Chimera Laboratories Pty Ltd, Doward International Pty Ltd, Greencare Developments Pty Ltd, Scental Pacific Pty Ltd, The Heat Group Pty Ltd, Aware Environmental Pty Ltd and Aware Environmental Products Pty Ltd are also in administration.

Together, the companies – which form the Hiro Brands Group – employs approximately 120 staff and Mr Hardy told news.com.au that “employees have been advised the Group is not able to continue their employment”.

Mr Hardy said brands manufactured by Hiro “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,” he said.

“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.”

Mr Hardy said that the size of the group’s debts was still becoming apparent due to the administration being in its infancy.

However, given the size of the company it is expected to be in the millions.

A creditors meeting for businesses is expected to be held on January 11.

The company also makes the pharmacy cosmetic brand ulta3.

Hiro is an exciting consumer goods business resulting from the merger of The Heat Group and Aware Environmental Ltd in 2022.

Besides the well-known Orange Power cleaning range, Aware Sensitive washing powder, Trix dishwashing detergent and Organic Choice cleaning and laundry products, which are sold in major Australian supermarkets including Coles and Woolworths, Hiro also makes cosmetic brand ulta3, which is sold in pharmacies across Australia.

Skin care brand Billie Goat and cosmetic brand MUD are among its other brands.

According to The Australian Financial Review Hiro Brands was valued at $50 million in 2020 and was on track to hit $70 million in revenue this year.

After an attempt to list on the Australian Secutiries Exchange (ASX) failed in 2022, business advisory and restructuring firm McGrathNicol had also been tasked with finding a strategic minority investor.

The administration also follows financial question marks around one of Hiro’s key investors, BRC Capital.

HoodAI and 3DMediTech, two of BRC’s other major investments are also in administration.

BRC is a key sponsor of the Melbourne Rebels Super Rugby club and its chairman, Paul Docherty, also chairs the Rebels.

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Originally published as Hiro Brands, which makes some of Australia’s most popular supermarket cleaning brands, collapses