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A leading manufacturer behind Australia's most popular household cleaning products, skincare and cosmetics has collapsed, resulting in the sacking of 120 staff.
Hiro Brands produces a range of products including Orange Power, Trix, Mud Beauty and Billie Goat skin care.
The company entered voluntary administration on January 2, with KPMG Australia's David Hardy, James Dampney and James Stewart appointed as administrators.
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Administrators have now assumed day-to-day control of the operations of the Hiro Brands Group and have ceased operations after completing an urgent assessment of its financial position, KPMG confirmed in a statement.
Approximately 120 staff employed by Hiro brands have been terminated.
"Regrettably, following our appointment it became evident the financial position of the business would not allow the continuation of trading activities," Hardy said in the statement.
"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."
Hardy said the administrators would be working with all stakeholders, including employees, suppliers, and customers "to maximise the outcome" in the search for buyers.
Hiro Brands' sister companies, Laboratories Pty Limited, Doward International Pty Limited; Greencare Developments Pty Limited; Scental Pacific Pty Limited; The Heat Group Pty Limited and Aware Environmental Products Pty Limited, have also entered administration.
A creditors meeting for the Hiro Brands Group is scheduled for January 11.
