Dessert brand Sara Lee has entered voluntary administration, only a year after celebrating 50 years in Australia.
Vaughan Strawbridge, Kathryn Evans, and Joseph Hansell of FTI Consulting were appointed as receivers. The appointment aims to seek restructuring and sale of the business while continuing its operations in the country.
While it has not been stated what forced the brand into administration, ABC reported that “supply chain issues” had impacted the business.
Established in 1971, the company produces frozen cheesecakes, pies, crumbles, and ice cream. It trades as Sara Lee under license from the global trademark owner, with rights to operate in Australia, New Zealand, Southeast Asia, and the Middle East.
New Zealand-based investor South Island Office acquired the business from McCain Foods in 2021, which McCain Foods acquired from Hillshire Brands Co in 2013 for $85 million.
In a statement from FTI Consulting, the company said the aim was to continue operations while securing the business’ future.
“Sara Lee is an iconic brand that produces quality Australian-made products from its manufacturing facility in Lisarow NSW, where it employs some 200 staff, said Strawbridge.
“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.”
