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Popular Aussie dessert company Sara Lee has gone into administration after 52 years of selling frozen cheesecakes, pies, crumbles and ice creams.
Its management yesterday appointed FTI Consulting's Vaughan Strawbridge, Kathryn Evans and Joseph Hansell as voluntary administrators of Sara Lee Holdings Pty Ltd.
Sara Lee Holdings is an Australian-based manufacturing business that trades as Sara Lee under licence from the global owner of the trademark, with rights to operate in Australia, New Zealand, South East Asia and the Middle East, FTI Consulting has confirmed.
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The consulting firm has said it has been appointed with the goal to restructure and sell the company while operations continue.
"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," administrator Vaughan Strawbridge said.
"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."
Sara Lee was established in Lisarow, on the NSW Central Coast, in 1971.
The company promotes that it only uses "quality, authentic ingredients".
"Our bakers and pastry chefs create delicious desserts and baked goods for Australians and New Zealanders every day, using traditional baker's flour, real eggs and fresh cream," its website reads.
Sara Lee products can be found in Coles and Woolworths supermarkets across Australia.
