The Australian confectionary company Sara Lee – best known for its frozen cheesecakes, crumbles and ice-cream – has gone into voluntary administration.
The beloved dessert brand has appointed FTI Consulting to either sell or restructure the business. The firm is acting as voluntary administrator from 17 October.
The business was established in Lisarow, NSW and has been selling confectionary to Australians since 1971.
Administrator Vaughan Strawbridge said the company still employed about 200 staff at its NSW factory.
“We are working with Sara Lee’s management team and staff to continue operations while we secure the future of the business,” Strawbridge said.
“We are immediately commencing a process to sell or restructure the business and continue its long history of manufacturing in Australia.
“We expect a lot of interest in the business and will work with those parties and stakeholders to achieve an outcome as soon as possible to secure the ongoing business and provide clarity to its loyal and committed staff and customers.”
Sara Lee can be found in Coles and Woolworths supermarkets across Australia and promotes itself as making quality frozen desserts.
The company has been contacted for comment.
