Balanced News: Online grocer Supie placed in voluntary administration

Supie, an online grocery business based in Auckland, has gone into voluntary administration after struggling to achieve the necessary scale and profitability. The company’s founder, Sarah Balle, made the decision after a key investor withdrew funding, leaving Supie with around $3 million in debt. The company, which employed 120 people, has run out of cash and may not be able to pay its staff. The administrators are currently assessing the situation and there are approximately 400 creditors. The closure of Supie has left former employees devastated and uncertain about their financial situation.