Australian confectioner Darrell Lea has entered voluntary administration, citing concerns over its ability to meet ongoing financial obligations.
The administrators, PPB Advisory, today (10 July) indicated they intend to sell Darrell Lea as a going concern. The owners of the group will provide short-term financial support to allow the business to continue to “operate effectively” while a buyer is sought.
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With its portfolio of leading brands such as Rocklea Road, its network of owned and licensed stores and its 1,800 retail outlets across Australia, New Zealand and the US, it seems likely that the sale of Darrell Lea will attract widespread interest from private equity and trade buyers alike.
