The iconic Aussie dessert company Sara Lee has collapsed into administration.
Loved for their variety of delicious desserts and filling supermarket freezer aisles for more than 50 years, but are now wanting to restructure and sell the business while continuing their operations.
First created in 1971 in what was a rural town of Lisarow NSW, now employs around 200 staff as FTI consulting steps in to handle the administration process.
Administrator Vaughan Strawbridge said in a statement that “Sara Lee is an iconic brand which produces quality Australian made products from its manufacturing facility in Lisarow NSW, where it employs some 200 staff”.
“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.”
“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.”