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Major South Australian dairy producer Beston Global Foods will be wound up next Friday, months after going into administration, leaving a trail of financial ruin for farmers and workers.
South East dairy farmer John Hunt claims he's owed $700,000 by the collapsed business.
"We still had that hope… and it's not there now," he said.
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The South Australian Dairy Association says about $10 million remains unpaid to creditors, 21 of whom are farmers now facing massive debt.
Beston's collapse has also resulted in the loss of nearly 200 jobs.
Despite indications that an interested buyer may have been close to finalising a deal, the company's secured creditor exercised their right to cease operations on December 1.
The administrator will sell off the company's assets in an attempt to pay creditors, and the South Australian government is reviewing its options.
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While short-term relief is being explored, long-term solutions will be vital to ensure a sustainable balance between the number of dairy processing facilities in operation and the demand for their services.
"We do have some really strong processes in South Australia that are expanding," SA Dairy Association spokesman Rob Brokenshire said.
"So we hope they'll be able to pick up what's happened as a negative at the moment and turn it into a positive.
This article was produced with the assistance of 9ExPress.
