Kaimai Cheese is selling its Waharoa property in a bid to stay afloat.

The Waikato specialty cheese producer announced a loss of $2.9 million, on revenues of $6.4 million, to the end of March, and its directors are openly discussing placing it in the hands of receivers.

Kaimai Cheese director Nigel Atherfold has told media the$5.5 million Waharoa site, which includes a cafe and butter factory, will now be placed on the market. 

The struggling company is a bitter critic of the structure of the New Zealand dairy industry.

Earlier this year, Kaimai Cheese chairman Wyatt Creech told Country99TV, that trying to survive in a domestic market completely dominated by Fonterra was a constant battle.

Earlier this year the company closed its production facilities and cafe in Te Mata, reduced the number of cheeses it produced, and laid off eight staff.