In an announcement that has left a nasty taste in the mouths of dessert lovers across the country, one of the nation’s most cherished dessert companies, Sara Lee, has been placed into voluntary administration.
For many years, this company has been a source of joy and sweetness in the lives of countless Aussies. Now, the brand is looking to make changes and sell off the company with the hope of keeping it running.
To assist in this transition, Vaughan Strawbridge, Kathryn Evans, and Joseph Hansell, experts from FTI Consulting, were appointed as voluntary administrators on October 17th. They are tasked with guiding the company through this process.
“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, October 18.
“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.”
Australians were left in a state of shock and heartache as the news broke of their cherished dessert company’s collapse.
— Melissa Hoyer (@melissahoyer) October 18, 2023
Aussie dessert icon Sara Lee enters voluntary administration after more than 50 years
Very sad I love their products
— Mari R (@randlight) October 18, 2023
— Rob Shehadie (@RShehadie) October 18, 2023
should I chuck all of the healthy food out of my freezer to make room for the last of the sara lee ? I feel it would be rude not to
— Erin M (@pfinger18) October 18, 2023
Sara Lee going into administration just might be the darkest day in Australias history. I for one know what I’ll be eating tonight ? pic.twitter.com/Kwd0GODLGg
— Heath (@LeastHesFunny_) October 18, 2023
I don’t like to use the phrase national emergency lightly but …
— James Wigney (@JamesWigney) October 19, 2023
Oh geez, another one bites the dust. Most of my favourite foods and lollies have gone now. I used to buy a Sara Lee Apple Danish once a week, but Coles haven’t sold them for years now.
— Wayne Reardon (@WayneReardon) October 18, 2023
An institution since I was a kid. How can they go bust? They’re everywhere. So successful, I don’t get it . Very popular. The only brand I think of when I go to that section for desserts ?
— Matthew (@MatthewLew13) October 18, 2023
The company began its journey in Lisarow, on the NSW Central Coast, back in 1971 and has been producing its goods for 50 years. Nowadays, it’s not just Australia that gets to enjoy their products; they’ve expanded to New Zealand, the Middle East, and South-east Asia.
The founder, Charles Lubin, who hailed from Chicago, gave his first bakery the name of his daughter, Sara Lee, in the 1930s. Over the years, this name became synonymous with his dessert company’s success.