The Lea family, owner and operator of the Darrell Lea Chocolate Shops, has found a buyer for the collapsed business.
As a result of this sale, the remaining Darrell Lea stores will be closed for good by Sunday and approximately 400 staff will lose their jobs.
However, the good news out of this sale is that it still remains Australian-owned. The business has been sold to Queensland-based pet food manufacturer VP Petfoods who will continue to produce and sell Darrell Lea products through licensed outlets across the country.
In early July, the company, which has been operating for 85-years, appointed PPB Advisory as voluntary administrators to preserve the commercial value of Darrell Lea and to effect the sale of the business. Since then, PPB Advisory, with support from both the Lea family and staff have taken the necessary yet difficult decisions that were required to achieve these aims.
“We have taken the necessary yet difficult decisions that were required to achieve these aims.
The Lea family acknowledges that this has been a very challenging period for everybody involved with the Darrell Lea business. The family believes that it has acted to the best of its ability to protect the interests of staff, licensees, suppliers and other key stakeholders,” the Lea family said in a statement.
“The family wish the new investors success in their efforts to maximise the considerable value that exists within the business.
“Part of that value is reflected in the goodwill that resides within the Australian public. The family thanks the Australian public for their support during the company’s long history and especially in recent times.
“This marks the end of the Lea family’s involvement in Darrell Lea.”