Australian chocolate retailer Darrell Lea is set to close half of its stores, resulting in a loss of almost 200 jobs.
The company's administrators, PPB Advisory, noted that 32 of the stores will close, leaving 198 casual, part-time and full-time staff out of work. The remaining 34 Darrell Lea outlets, a number of which are franchises, will keep functioning.
The administrators are expected to announce which stores will close and potential bidders for the remaining outlets
This move comes three weeks after Darrell Lea has entered into administration following a cash-flow crisis, putting nearly 700 jobs at risk. The owners, the Lea family, had noted that they would provide short-term financial support during the sale process.
Darrell Lea, which is known for its Rocklea Road and soft licorice creation, operated 69 owned and licensed stores across Australia, New Zealand and the US.
