Melbourne-based sustainable packaging company Great Wrap has entered voluntary administration with debts of about $39 million, following years of financial losses and shifting market conditions.
Founded in 2019 by husband-and-wife team Jordy and Julia Kay, Great Wrap developed compostable cling wrap, catering wrap and pallet wrap made from food waste and plant-based polymers. It was the only Australian manufacturer producing compostable stretch wrap for both household and commercial use.
Administrators Brent Morgan and Shane Cremin of Rodgers Reidy were appointed to the company’s operating entity, Plantabl Packaging Pty Ltd, on 17 September 2025. All five employees were made redundant and operations at the Tullamarine facility were shut down.
At the time of administration, Great Wrap owed $8.5 million to secured creditor De Lage Landen, $2.5 million to non-related unsecured creditors, and more than $28 million to related-party creditors. Staff were owed about $104,000 in wages, superannuation and leave entitlements.
In a statement released on LinkedIn this week, Jordy Kay, chief executive and co-founder of Great Wrap, reflected on the company’s six-year journey and the circumstances that led to its collapse.
“In light…