Australian chocolate retailer Darrell Lea has entered into administration following a cash-flow crisis,putting nearly 700 jobs at risk.
The company has appointed PPB Advisory as voluntary administrators of the business.
PPB Advisory partner Mark Robinson said that an urgent review of the business is being undertaken with a view to prepare Darrell Lea for sale.
"We will work with all stakeholders including employees and their representatives,licensees,customers and suppliers to ensure the business continues to operate effectively,"Robinson added.
The owners,the Lea family,noted that they would provide short-term financial support during the sale process.
Darrell Lea,which is for its Rocklea Road and soft licorice creation,has 69 owned and licensed stores and 1,800 retail outlets across Australia,New Zealand and the US.It also has a presence in Europe,the UK,Canada and South Africa.
