AusBN – Premium chocolatier Koko Black has gone into voluntary administration after rapid expansion put the private company under strain.
The Melbourne-based manufacturer and retailer will remain open for business in the run-up to Christmas, keeping its 300 staff in work.
Meanwhile, joint administrators Sal Algeri and Glen Kanevsky will examine options for recapitalising and restructuring the business to ensure its future viability and growth.
Algeri said in a statement: “The business expanded very rapidly and undertook a series of major projects over the past 18 months. In combination, the level of activity was beyond the resources of the business.”
He finished the statement by urging people to support the business during the Christmas period.
Koko Black is the latest in a line of chocolate makers to enter voluntary administration.
Ernest Hillier, Australia’s oldest chocolatier, went into administration in January 2015 and Darrell Lea went into administration in 2012, before being purchased by the Quinn family.