Online food delivery company Five Point Four goes into administration

Customers of popular food delivery company Five Point Four have been told they’ll need to get their food elsewhere as the company goes into administration.

The food delivery service – a social media darling – was founded by Melbourne-based entrepreneur Ben Doolan and was registered to an address in Brisbane’s Fortitude Valley. The company lodged a notice of administration with ASIC on Friday following the distribution of a letter to customers on Wednesday.

"In the face of increasing competition and our cost to serve, we have made the really difficult decision to stop taking orders with immediate effect as of today," the company said in an email sent to customers."For our customers with future pre-paid orders, the customer service team will be working diligently to process your refund and will be in touch over the coming days.

"Thank you for being part of the 5.4 family and wish you all the best in reaching your health goals in the future."

More shysters running off with the dough ( perhaps literally)?; or an unsustainable business model involving the murky world of creepy, unregulated social media influencers.

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