Eco-friendly company Bardee, that made Superfly fertiliser sold at Bunnings, has gone into liquidation

An innovative company that struck a deal with hardware giant Bunnings to stock its products has gone bankrupt following the death of an employee last year.

Bardee was ordered into liquidation in May after a Melbourne warehousing company and the Victorian State Revenue Office took the company to court over unpaid debts.

Just five years ago, the company started an eco-friendly plan to help us billions of black soldier flies turn food waste into new products like fertilizer and pet food.

Bardee received $8 million in funding from several high-profile investors, including Who Gives A Crap co-founder Simon Griffiths, Culture Amp co-founder Didier Elzinga and his wife Greta Bradman.

Despite being awarded a contract with Bunnings a year ago, administrator Anthony Lane of Beacon Advisory said Bardee owed $500,000 to 24 creditors.

Bardee was launched five years ago and received $8 million in funding from several high-profile investors (pictured is co-founder Phoebe Gardner)

Bardee, the maker of Superfly (pictured), an environmentally friendly fertilizer, was declared bankrupt in May

Mr Lane said he believes Bardee’s fight started after a worker was crushed by a rubbish truck.

The 26-year-old man had gotten out of the truck, but it rolled forward and pinned him against a post and wall of a building.

WorkSafe Victoria is still investigating that incident, News.com.au reports.

“I think it seems like the unfortunate workplace accident they had last year damaged their business in a number of ways, and only based on my very preliminary understanding of the company’s background I can say that,” said Mr. Lane.

‘It’s probably too early to say definitively what the cause was. It is rarely one thing that stands alone; at companies like this it is often a combination of factors.’

Bardee, registered under the company name Beyond AG, laid off 30 full-time employees last year in an effort to stay afloat.

Positions lost included scientists, biologists, geneticists, operations specialists and circular economy specialists.

It is understood Bardee had no outstanding employee rights at the time of liquidation but will still be subject to an investigation by the Fair Work Ombudsman.

Bardee’s star product, Superfly, was stocked in Bunnings a year ago, with Ms Gardner claiming it had ‘quadrupled’ orders for Superfly shares ‘after a week’.

Mr Lane described the company’s collapse as “a sad story”.

“On the surface it seems like we have young entrepreneurs trying to make a difference in the world, but for a variety of reasons we haven’t been able to,” he said.

‘Unfortunately the way insolvency works in this country is that people are often pilloried rather than praised and respected for the work they do. We don’t have a society that is particularly tolerant of failure, it’s sad for everyone.”

The landlord and the Victorian State Revenue Office are owed the most money, while suppliers are also owed significant amounts.

It’s understood Bunnings owes $700.

Mr. Lane is also exploring Beyond AG’s sale of the Bardee brand and its recycling technology to a manufacturer in 2023.

Bardee co-founder Phoebe Gardner told the Australian Financial Review the company had secured funding to pay for workers’ entitlements.

‘Subsequently, delays in third party insect control services resulted in unsustainable operational costs. “We are now working closely with the appointed liquidator to secure the most favorable outcomes for the remaining creditors,” she said.

Liquidator Anthony Lane of Beacon Advisory found that Bardee owed $500,000 to 24 creditors (photo, Bardee CEO Phoebe Gardner and CTO Alex Arnold)

The collapse is in stark contrast to Ms Gardner’s announcement just a year ago, in which she claimed Bunnings had ‘quadrupled’ its order of Superfly shares ‘after a week’.

“Never before has the circular economy of food waste been so available and visible to everyone across Australia,” she wrote on LinkedIn.

“Food waste dumped at Bardee facilities is converted into fertilizer and protein products within seven days, instead of going to landfills. now you can grow your garden and house plants with sustainable Superfly fertilizer from your local Bunnings store.’