Meal company Five Point Four has entered into administration citing tough competition in the online food delivery space.
The company, which specialised in the manufacture and home delivery of inexpensive, low carb “macronutrient-controlled” frozen meals, had a strong social media marketing presence on Facebook and Instagram.
Last week, however, the company emailed customers to inform them that their orders would no longer be delivered.
"In the face of increasing competition and our cost to serve, we have made the really difficult decision to stop taking orders with immediate effect as of today," the company reportedly wrote.
Five Point Four has lodged a notice of administration to the Australian Securities and Investments Commission (ASIC).
The company was founded in Brisbane in 2013, and its manufacturing was outsourced to Beak & Johnson, although the meals were portioned in house.
Five Point Four has now switched off its social media accounts, but its website is still live.
