Potato chip manufacturer placed into administration

Thursday, 24 July, 2014

Australian potato chip manufacturer Potato Magic Australia has been placed into administration. The Griffith company supplies potato chips to diet food providers.

PPB Advisory has taken over administration of the company, ABC News has reported. The administrator is seeking a buyer for the business.

The operations of the company have been licensed to owner Paul Rennie so the company can continue to operate and service clients, according to ABC News. Rennie is reportedly being investigated by the Australian Tax Office and the Australian Federal Police for an alleged offshore tax evasion worth millions of dollars.

With an annual turnover of $1.2 million, Potato Magic Australia employs four permanent and 12 part-time staff.

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