Australian dessert icon, Sara Lee, known for its frozen cheesecakes, pies, puddings, and crumbles, entered voluntary administration on Tuesday.
The brand hopes to restructure and sell off the company while continuing operations.
Vaughan Strawbridge, Kathryn Evans and Joseph Hansell from FTI Consulting were appointed as voluntary administrators on October 17.
Catch the best deals and products hand-picked by our team at Best Picks >>
“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,” Strawbridge said in a statement on Wednesday.
“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.”
Dessert company Sara Lee entered voluntary administration on Tuesday. Credit: Facebook
The company was established in Lisarow, on the NSW Central Coast, in 1971 where production has continued for 50 years — but trading has now expanded beyond Australia to New Zealand, the Middle East and South-east Asia.
The Chicago-based founder, Charles Lubin, named his first bakery after his daughter, Sara Lee, in the 1930s, a name his prolific dessert company would adopt in the following decades, according to Bidfood.
It reports that Sara Lee developed freezing processes which led the industry in the 50s, and began launching iconic advertising campaigns in Australian Women’s Weekly throughout the early 70s.
By the 80s, the company was making 50,000 cheesecakes a day, and in 1992 it became the 7th largest company to supply goods to Australian supermarkets.
The best-selling Sticky Date Pudding was launched in 1997, and in 2013 the company was acquired by McCain Foods.
Now, the company makes 200,000 cakes and pastries a day — a hefty production administrators hope to continue as they look for a buyer.
Nestle confirms major change to two iconic chocolates
‘Mind blowing’ video shows ‘correct’ way to cut vanilla slice: ‘What a revelation’
If you’d like to view this content, please adjust your Cookie Settings.