Darrell Lea up for sale with 700 jobs at risk.
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Date
July 10, 2012
The iconic confectionery retailer Darrell Lea has gone under after 85 years in business.
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Up to 700 jobs at Darrell Lea’s franchises and company-owned stores, as well as its factory in Kogarah, NSW, are at risk.
The family-owned company, famous for its Rocklea Road and soft licorice creations, has appointed insolvency firm PPB Advisory as voluntary administrators.
PPB’s Mark Robinson said the firm would undergo an urgent review of Darrell Lea with a view to selling the business as a going concern.
The owners, the Lea family, have agreed to provide some short-term financial support during the sale process.
Darrell Lea’s 69 company-owned and franchised stores will continuing operating as normal in the meantime. Darrell Lea has stores in Australia, New Zealand and United States.
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“We will work with all stakeholders including employees and their representatives, licensees, customers and suppliers to ensure the business continues to operate effectively,” Mr Robinson said.
comments so far
as expected, hardly see any customers in Darrell Lea these days.......
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Commenter
OMG
Location
Melbourne
Date and time
July 10, 2012, 12:12PM
Yeah, its a bit sad, but I stopped going in there since the chocolates are just too expensive. I think their focus on being in the big shopping centers that have sky high rents has backfired. They should have been in more small shopping strips and they could have kept their prices reasonable.
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Commenter
Sorry, but...
Location
Date and time
July 10, 2012, 12:36PM
First remember Darrell Lea way back in the 1960s as a kid. They always put out a good tasty product but even back then they were a bit more expensive than most other chocolates. I'm surprised they've lasted this long to be honest. I'm not a big chocolate consumer, but I noticed each time I pass or go into one of their stores last few years, it's almost empty of customers.
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Commenter
Consumer
Location
Sydney
Date and time
July 10, 2012, 1:04PM
Read more: http://www.theage.com.au/business/darrell-lea-up-for-sale-with-700-jobs-at-risk-20120710-21str.html#ixzz20Bl7l24M