Circonomy collapses into liquidation
Circonomy has entered creditors’ voluntary liquidation due to becoming financially unviable after 11 years of operation.
Initially meant to raise funds for charity while promoting environmental sustainability, the circular economy retailer found it difficult to sustain the business despite efforts to boost sales and reduce costs. Officeworks took a stake in the business in 2022.
Liquidators James Taplin and Stefan Dopking of BRI Ferrier are now reviewing Circonomy’s operations with a view to selling the business.
“While this is not the outcome we had hoped for, we are proud of the positive impact Circonomy has made,” said Yas Grigaliunas, Circonomy founder.
“Our focus is now on supporting our employees through this process in any way we can. We understand the impact this decision will have on them, and we do not take it lightly.”
Originally founded as the World’s Biggest Garage Sale in 2013, Circonomy sells renewed furniture, technology equipment, apparel, and toys rates.
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