Knowledge (XXG)

Supie

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had run out of cash, partly due to a lack of sales, and because a key investor pulled out. Employees were told that they may not receive pay for work they had done the week prior, which was later paid by an anonymous donor. Many of Supie's perishable goods — such as meat, eggs and dairy products — were left to rot on the ground outside of a warehouse after its cooling equipment was liquidated. $ 400,000 worth of goods were sent back to suppliers, and other recoverable goods were planned to be sent to a food rescue organisation.
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Rather than buying from the two major supermarkets, Supie created its own supply chain, whose suppliers included those who supplied the major supermarkets. Supie believed that they were paying higher prices to suppliers than the major supermarkets. They were able take these higher prices as they had
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On Monday 23 October 2023, Richard Nacey and Stephen White, of PwC New Zealand, were appointed administrators of Supie. Customers soon started reporting that they were unable to make purchases on the website, and a few days later, on 30 October, Supie was put into voluntary administration, after it
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Supie customers were offered a $ 99 annual subscription for free grocery delivery and 2% minimum cashback on all orders. At the time of launch, it stocked about 2,500 products which is compared to the 8,000 products that a
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Supie was launched in May 2021 in Auckland by Sarah Balle with the goal of disrupting New Zealand's supermarket duopoly, operated by Foodstuffs and Woolworths. In November, it raised $ 2.5 million in seed funding, led by
1149: 1086: 184:. This would have made its products available to 77% of the country's population, an increase from 50%. They also planned on launching physical stores, which would have operated 24/7 and be unmanned. 1056: 743: 364: 1119: 402: 992: 506: 437: 260:
offers. This increased to over 6,000 products by June 2022. Until closure, Supie was only available in Auckland, Tauranga, and the Waikato, which amounted half of the country's population.
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in Auckland 2021, Supie had a growth rate of 1700%. By June 2022, it had 23,000 members and $ 6.5 million in annual revenue, and in July 2023, it had 55,000 customers and about 130 staff.
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In 2022, Supie started wholesaling for small retailers such as dairies. In September, they started selling meal bundles in partnership with the meal planning startup MenuAid.
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was owed almost $ 900,000. On 16 November, 89 staff were owed $ 120,000 in outstanding wages and holiday pay. When Supie went into liquidation, it had $ 179,000 in the bank.
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on 30 October, and subsequently liquidated, owing over $ 2.1 million to over 4,000 creditors. Its goal was to disrupt the country's supermarket duopoly, operated by
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Grocery commissioner Pierre van Heerden described the closure as "disappointing", as the company did not become a competitor in the supermarket duopoly.
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was an online New Zealand supermarket. It was launched in 2021 by Sarah Balle and failed in 2023 after running out of cash. It was put into
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A report published in November revealed that Supie owed $ 2.1 million to over 4,000 creditors, which included Foodstuffs, Woolworths,
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Supie was planning to expand coverage to the entire North Island in 2024, from which it was only available in
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In January 2024, Supie's trademarks and website domain was bought by The Meat Box, an online butcher.
213: 139: 156: 1114: 1079:"Supie failure: Nicola Willis says third entrant needed to 'break up' supermarket duopoly" 1020: 831: 707: 674: 636: 603: 570: 534: 501: 468: 397: 1171: 393:"Supie, an online alternative to traditional supermarkets, plans to open in Auckland" 236: 257: 240: 209: 736:"Supie staff told they may not receive pay as company goes into administration" 357:"Supie staff told they may not receive pay as company goes into administration" 247:
to investigate if any anti-competitive behaviour resulted in Supie's closure.
1049:"Nicola Willis 'gutted' by Supie closure, wants new supermarket competitors" 201: 1110:"NZ online grocery retailer Supie looks to expand its wholesale business" 497:"Where to next for Supie after a $ 3.9 million thumbs-up from investors?" 464:"'Netflix for grocery shopping' Supie raises $ 2.5 million in seed round" 197: 177: 173: 97: 92: 77: 670:"The 'cheaper' supermarket option that 50% of the country can't access" 205: 181: 102: 317:"Online grocer Supie owed $ 2.1m to more than 4000 creditors - report" 632:"Supie, MenuAid work together to offer shoppers a dinner alternative" 430:"Supermarket startup Supie to put $ 2.5m seed funding towards growth" 321: 859:"Supie workers to receive final paycheque after anonymous donation" 599:"Price drop: The small supermarket undercutting the major players" 566:"Supie hopes to raise up to $ 5 million through Snowball Effect" 1016:"New grocery commissioner 'disappointed' Supie has hit trouble" 703:"Supie looks to open high-tech, unmanned, 24/7 physical stores" 923:"Supie suppliers dismayed at food left to rot by liquidators" 827:"Supie administrators receive 'interest' in brand IP, assets" 530:"Arm wrestle for share of $ 22b groceries market intensifies" 889:"Supie collapse: Veges, chilled and frozen food left to rot" 983:"Supie partially snapped up by online butcher the Meat Box" 796:"Supie in administration after key investor pulls support" 282:"Report reveals why Supie collapsed, what staff are owed" 239:
shared the same sentiment, saying that she was "gutted".
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lower costs, such as by not having physical locations.
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In November 2021, Supie had 6,000 customers. During a
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Index

Auckland
Auckland
Tauranga
Waikato
voluntary administration
Foodstuffs
Woolworths
Icehouse Ventures
COVID-19 lockdown
Auckland
Tauranga
Waikato
Fonterra
Coca-Cola
NZ Post
Tegel Foods
Warehouse Stationery
Inland Revenue
National
Nicola Willis
Consumer NZ
Grocery Commissioner
Pak'nSave
"Report reveals why Supie collapsed, what staff are owed"
Archived




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