Recycling start-up deemed to be no longer financially viable.

 

Pioneering Brisbane recycling venture Circonomy has been placed in voluntary liquidation.

 

The 11-year-old business in which Officeworks held a 21 per cent stake,  was deemed to be no longer financially viable. 

 

A spokesperson for Officeworks told SmartCompany the liquidation of Circonomy is “very sad” and acknowledged all of Circonomy’s employees for their “hard work and contribution”.

 

At the same time, the retailer said it remains committed to participating in the circular economy and “finding opportunities to transform what may be seen as waste, into valuable resources”.

 

Circonomy launched 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 Yasmin Grigaliunas (pictured) 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 stake in the business. The 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.

 

The upcycler also collaborated with other retailers such as Catch, David Jones, and Azura to offer a wide of consumer goods at discounts of up to 80 per cent. The range spans homewares, clothing and footwear, beauty and personal care products, toys, sports equipment, watches and technology.

 

In a statement announcing the decision to place Circonomy in voluntary liquidation, Grigaliunas said that despite the best endeavours of the team to increase sales and reduce costs, the business was no longer financially viable.

 

Photo: Instagram.