Source: Sara Lee / Facebook
Frozen dessert giant Sara Lee has collapsed into voluntary administration, appointing FTI Consulting to keep the mixers churning while pursuing a sale or restructure.
The decision will rattle more than 200 local Sara Lee staff, including many workers at the Central Coast manufacturing hub responsible for many of its cakes, puddings, crumbles, and pies.
Sara Lee’s local operation, which first arrived in Australia as an offshoot of its American parent company in 1971, has reportedly tapped Vaughan Strawbridge, Kathryn Evans and Joseph Hansell as administrators.
Speaking to the Sydney Morning Herald, Strawbridge said they expected significant interest in the freezer aisle icon and hoped to secure the business’ future as soon as possible.
Handpicked for you
Slowing job market projected to hit young workers the hardest
COMMENTS
Reader comments will be back online shortly. In the interim send us any tips or feedback via news@smartcompany.com.au.