AUSTRALIA: Collapse imminent for Internet food scheme Freshchain
Freshchain, a fresh fruit and vegetable Internet scheme set up in May 2002 by the Melbourne Market Authority, is on the verge of collapse. More than A$13m (US$7m) has been invested so far in the online service, which aims to connect growers, wholesalers and retailers. In August 2002, the government of Victoria refused to let the Melbourne Market Authority raise more funding by issuing another batch of shares.
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