Australian Sodastream clone SodaKING has been placed in administration with liquidators seeking an immediate sale.
SodaKING was launched in 2014, and touted itself as “the world’s newest and most innovative manufacturer of home soda systems”. It boasted distribution through over two thousand locations around Australia.
As is always the case when a widely distributed company collapses, questions need to be asked about what happens to the existing stock.
Big W, Woolworths, Betta Electrical, Spotlight, and Harris Scarfe are among the major retailers who stock SodaKING products.
Like Sodastream, it sells refillable gas cylinders for $39 that can be swapped out for $19 for each refill. Many consumers will now be wondering what to do with their now-useless cylinders.
SodaKING Australia and SodaKING IPV have been placed in administration, with Barry Wight and Glenn Spooner of restructuring advisory firm Cor Cordis taking the reins.
“We are continuing to trade the business whilst urgently seeking parties looking to acquire or recapitalise Soda King,’’ the administrators said in a statement.
No further financials or debts have been made public.