Aussie confectioner Darrell Lea up for sale

PHILIP WEN
Last updated 16:06 10/07/2012

Relevant offers

National business

Lumbercube to close Rotorua timber mill - about 80 jobs on the chopping block Intergen named supreme Wellington Gold Award winners Marlborough Wine Estates lists on NXT IRD urged to lift veil of secrecy over big company tax Kaitangata: Little rural town's big incentive to attract city-dwellers ERA awards Auckland transgender woman $15K for unfair dismissal Marlborough District Council gives theatre trust $390k a year, delays $5m debt decision Marlborough Mayor Alistair Sowman rubbishes calls to stand down over ASB Theatre Ikea importers say Malm drawers safe if attached to wall Two-year drought runs long-time farmer off his land

Australian confectionery retailer Darrell Lea has gone under after 85 years in business.

Up to 700 jobs at Darrell Lea's franchises and company-owned stores, as well as its factory in Kogarah, NSW, are at risk.

The family-owned company, known for its Rocklea Road and soft licorice creations, has appointed insolvency firm PPB Advisory as voluntary administrators.

PPB's Mark Robinson said the firm would undergo an urgent review of Darrell Lea with a view to selling the business as a going concern.

The owners, the Lea family, have agreed to provide some short-term financial support during the sale process.

Darrell Lea's 69 company-owned and franchised stores will continuing operating as normal in the meantime.

Darrell Lea has stores in Australia, New Zealand and the United States.

"We will work with all stakeholders including employees and their representatives, licensees, customers and suppliers to ensure the business continues to operate effectively," Robinson said.

Ad Feedback

- Sydney Morning Herald

Special offers

Featured Promotions

Sponsored Content