Good news: Dessert brand Sara Lee will continue to delight customers with its beloved food products.
Yesterday (29 Jan), it was reported that former race car driver Klark Quinn, and his partner Brooke, have rescued the brand out of administration.
The brand went into voluntary administration last year citing high operating costs and supply chain issues.
According to The Sydney Morning Herald, the couple’s successful buy-out of Sara Lee will ensure that more than 200 staff will retain their jobs.
Vaughan Strawbridge of FTI Consulting, who has been actively supporting the brand, expressed his heartfelt gratitude towards the staff and management team who facilitated the smooth process.
Strawbridge also took a moment to highlight the staff’s unwavering loyalty and passion, and said that he was “pleased” to see them make it out successfully.
The sum of the buy-out is undisclosed to the public.
In October last year, the brand collapsed and went into voluntary administration.
With regards to the decision, Sara Lee cited challenges such as higher operating costs, supply chain issues, and disrupted operations.
This led them to appoint Strawbridge, along with Kathryn Evans and Joseph Hansell from FTI Consulting as their administrators.
The trio was responsible for restructuring the business while helping to keep it afloat in the meantime.
When news of Sara Lee’s collapse broke, Australians scrambled to supermarkets to stock up on crowd-favourite products such as cheesecakes, pies and ice-cream.
Source: @SaraLeeDesserts on X
In a statement, Klark and Brooke Quinn shared that indulging in the brand’s apple pie and vanilla ice-cream was a routine for their family every Sunday.
Source: Sara Lee Desserts
Adding on, they expressed their pride towards attributing the “Aussie made and owned stamp” to the brand.
This is not the sole assistance extended by the Quinn family towards struggling food businesses.
In 2012, Klark’s father Tony Quinn similarly purchased Australian confectionery Darrell Lea, saving it from its collapse.
Sara Lee entered the Australian market in 1971. The brand also trades in other regions such as New Zealand, the Middle East, and Southeast Asia.
Also read: Dessert Brand Sara Lee Collapses Due To High Operating Costs & Supply Chain Issues
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from Sara Lee Desserts on Facebook and @saraleeau on Instagram.
It has been marketed online as a candy that helps with male sexual enhancement.
"POP MART does not have any official licensed partners in Singapore," it said.
51% of Singapore's average monthly rainfall in November fell in northern Singapore over less than…
He made sure all the passengers were served before taking a slice for himself.
The doctor recommended a 2-week gap between manicures to allow nails to recover.
The dog stayed with its owner until she was discharged.