The all-natural cosmetics brand Inika, based in Australia, has collapsed with more than $1.5 million in debt, despite its past few months of profitability. The business will be put up for sale, but is likely to go into liquidation.

The business was placed in administration with Gavin Moss and Nick Combis appointed from Vincents Chartered Accountants.

Inika was founded in 2006 by Miranda Bond and its range is sold in more than 16 countries.

Bond was inspired to start the company after she was on;y able to get pregnant by following an organic diet and eliminating the use of beauty products that contain controversial chemicals, such as nail polish.

Unsecured creditors are owed a total of $530,000, secured creditors are owed $980,000 and employees still need to be paid $20,000 in entitlements and unpaid superannuation. The three largest creditors are Cardinia Nominees, the Australian Taxation Office and the Commonwealth Bank.