The remaining company-owned Darrell Lea shops will close, but new owners have been found to keep the chocolate factory running.
The Lea family has ended its involvement with the chocolate company that bears its name, selling it to the Quinn family for an undisclosed sum.
However, there was no interest from any buyers in taking over and trying to turn around the loss-making retail outlets.
That means the remaining 27 Darrell Lea company-owned stores will close on September 9, with the loss of 246 permanent and 172 casual jobs.
Last month the closure of 32 Darrell Lea stores was announced after the company was placed into voluntary administration.
The administrators, PPB, say the decision to close the remaining retail outlets ensures the viability of the factory, saving 83 manufacturing and administrative jobs.
“This sale represents the best outcome for Darrell Lea and it ensures that this iconic Australian brand and its manufacturing operations can continue to operate locally and stay Australian-owned,” said PPB’s Mark Robinson in a statement.
“The sale follows an extensive review of a number of offers presented to PPB Advisory, and we are confident that the Quinn family has the necessary skills and experience to take the business…