Pioneering Brisbane recycling venture Circonomy was placed in voluntary liquidation on Friday with founder Yas Grigaliunas saying the 11-year-old business was no longer financially viable.
Liquidators James Taplin and Stefan Dopking of BRI Ferrier were handed the books to review the company’s operations for a possible sale.
Circonomy began in life in 2013 as the charity fundraiser the World’s Biggest Garage Sale (WBGS), offering a wide range of products including repaired, recycled or refurbished products, in a bid to reduce waste and costs and increase sustainability. Two years later WBGS became a company and following year Grigaliunas began setting the stage to launch Circonomy as a closed loop repair, repurpose and resale enterprise.
Circonomy launched in September 2022, a month after Officeworks took a 21% stake in the business. The business supplies retailer had plans to expand the concept into a national recovery and repair service under the Circonomy brand, expanding beyond furniture and office supplies, to retail products that would otherwise be sent to landfill.
At the time Officeworks MD Sarah Hunter said they’d partnered with WBGS for the previous three years.
“Together we have demonstrated a feasible…