Supie first sought help from PwC in April

Supie founder Sarah Balle. (Image: Supplied)

Fri, 03 Nov 2023

Supie founder Sarah Balle first approached PwC for help more than six months before her online grocer startup went under this week.That was because the company had “exhausted” all funding options and was looking to start an insolvency process, according to the administrator’s report, which reveals less than 5% of its members were “active subscribers”.Creditors of Supie – which are owed roughly $3 million – are being called together next Thursday to decide on the business’s future.Founded by Balle...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

2 Cheap Cars signals branding gear change to chase Turners

At the AGM, a shareholder cited Turners' “very aggressive marketing strategy”.

Gregor Thompson 12:00pm

The Quiz Free

QuiznessDesk, Friday, Sept 26

Think you're clever enough?

The Quizmaster 9:15am

Technology

Govt agency defends support for vanishing venture capitalist

NZ Growth Capital Partners refuses to detail problems with Hillfarrance startup fund.

Maria Slade 5:00am

Sponsored

AI agents: opportunity or graveyard? Spark’s five-point playbook for success

Artificial intelligence agents – autonomous digital entities that analyse data, automate decisions, and act independently – are set to drive a new wave of business transformation.

Spark Enterprise

Sponsored