KPMG appointed administrators to ASX-listed TasFoods and key subsidiaries

The board of ASX-listed TasFoods has placed the company and several operating subsidiaries into voluntary administration following an unsuccessful attempt to sell its Nichols Poultry business.

Timothy Mableson and David Seeckts of KPMG Australia were appointed voluntary administrators on 11 March 2026 to TasFoods Limited and subsidiaries Tasmanian Food Co Dairy Pty Ltd, JJJBSM Pty Ltd, Van Diemen's Land Dairy Pty Ltd, Nichols Poultry Pty Ltd and Nichols Hatchery Pty Ltd.

TasFoods has positioned itself as a producer and marketer of premium Tasmanian food products, historically acquiring and operating a portfolio of established agribusiness brands across dairy and poultry. The group’s remaining core assets include Nichols Poultry and its associated hatchery operations, which supply chicken products across Tasmania and broader Australian markets.

In recent years, the company progressively divested a number of non-core food brands as it attempted to stabilise its balance sheet and refocus on poultry operations. Those efforts followed a period of sustained losses and declining profitability, including a reported multi million dollar loss in its most recent half year results.

Industry conditions appear to have compounded the company’s financial challenges. The domestic poultry sector has faced a period of oversupply at the same time that input costs have risen sharply, squeezing margins across producers and processors. Market participants have also pointed to declining sales volumes in parts of the sector during the past year.

The administrators have indicated that operations are expected to continue while an urgent review of the group’s financial position and business structure is undertaken. The process will examine potential restructuring, recapitalisation or sale pathways for the group’s assets, including the Nichols Poultry operations that underpin much of the company’s remaining activity.

At the time of their appointment, the group employed approximately 160 staff across its processing, farming and administrative operations. Maintaining trading continuity and preserving value for creditors will be a key focus while the administrators assess options for the business.

Trading in the company’s shares remains suspended while the administration process unfolds.