Administrator Adam Shepard told The Daily Advertiser that while the assessment has not yet been finalised, early indicators suggest that those are the approximate numbers.

Creditors could be owed "millions of dollars", he said.

"They will meet next week and we'll assess the company's assets and potential sale of assets as part of the process," Mr Shepard said.

"They [creditors] will need a proof of debt."

Mr Shepard said there is currently about $2 million worth of stock and that any proposals by the organisation will be considered at the creditors meeting.

Asked about the reasons for the company being administered, Mr Shepard said the question would need to be directed to the company.

owner Mario Bonfante has not yet responded to queries.

July 30: WAGGA's primary grain merchant Grainpro has been placed under administration.

The agribusiness, described as family-owned and operated, was established in 2006 is primarily involved in the domestic and international bulk grains markets.

Global customers include those in Egypt, China, India, Malaysia and New Zealand.

On July 27, Adam Shepard at Setter Shepard was appointed administrator.

A meeting is scheduled for 3pm on August 7 at Wagga's Mantra Pavilion Hotel where creditors will consider whether to appoint a committee of inspection and, if so, who the members will be.

The meeting agenda also includes creditors determining whether someone else may be appointed as administrator of the company.

Creditors who would like to attend are advised proofs and proxies are to be submitted to the administrator by 5pm on August 6.

Administrator Adam Shepard and the business owners have been contacted for more information.