The 52-year-old dessert manufacturer has appointed voluntary administrators who are seeking a new buyer of the business.
Sara Lee, the household name behind frozen cheesecakes, pies, crumbles and ice creams, has appointed voluntary administrators.
Founded in 1971, the dessert manufacturer yesterday appointed FTI Consulting’s Vaughan Strawbridge, Kathryn Evans and Joseph Hansell as administrators and will keep operations running in a bid to restructure the business.iStock Strawbridge described Sara Lee as an iconic brand with more than 200 staff employed at its manufacturing facility on the Central Coast of NSW.
“We are working with Sara Lee’s management team and staff to continue operations while we secure the future of the business. We are immediately commencing a process to sell or restructure the business and continue its long history of manufacturing in Australia,” he said. “We expect a lot of interest in the business and will work with those parties and stakeholders to achieve an outcome soon as possible to secure the ongoing business and provide clarity to its loyal and committed staff and customers.”
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