Reuters. The Supertech ORB project, managed by the indebted Supertech group, has been admitted into the Corporate Insolvency Resolution Process (CIRP) by the Prayagraj National Company Law Tribunal (NCLT). This decision follows a plea from Assets Care and Reconstruction Enterprises Limited (ACRE) regarding a defaulted debt repayment of Rs. 482 crore, including both principal and…
Sara Lee Holdings, a company well-known for its frozen desserts such as cheesecakes, pies and ice cream, has gone into voluntary administration. While there’s uncertainty around the future of the dessert brand, the factory appeared to be in full swing this morning. Let’s unpack what we know and who the brand got its now-famous name from. Who owns…
By Kylie Stevens and Padraig Collins For Daily Mail Australia Published: 09:30 AEDT, 19 October 2023 | Updated: 09:44 AEDT, 19 October 2023 Sunrise host Nat Barr has led a growing chorus of heartbroken Aussies pleading for Sara Lee to be saved after frozen desserts company coll… Read the full article at: https://www.dailymail.co.uk/news/article-12646557/The-three-tragic-causes-Sara-Lees-voluntary-administration-Australia.html
The Australian confectionary company Sara Lee best known for its frozen cheesecakes, crumbles and ice-cream has gone into voluntary administration. The beloved dessert brand has appointed FTI Consulting to either sell or restructure the business. The firm is acting as voluntary administrator from 17 October. The business was established in Lisarow, NSW and has been…
After 50 years of manufacturing frozen cheesecakes, pies, crumbles and ice cream in Australia, Sara Lee Holdings has gone into voluntary administration. Key points: Vaughan Strawbridge, Kathryn Evans and Joseph Hansell of FTI Consulting have been appointed as voluntary administrators The administrators are seeking to restructure or sell the business while its operations continue Sara Lee was…
Australian dessert staple Sara Lee has joined many other struggling local businesses, entering voluntary administration after 52 years in business. The iconic brand was bought from McCain Foods for an estimated $95 million in 2021 by New Zealand equity firm private equity firm South Island Office, which have appointed administrators Vaughan Strawbridge, Kathryn Evans and…
Beloved dessert company Sara Lee, known for its frozen cheesecakes, apples pies and ice cream, has gone into voluntary administration. The Australian-arm of the US-based corporation has been trading since 1971, with the brand operating from Lisarow on NSWs Central Coast. Administrators Vaughan Strawbridge, Kathryn Evans and Joseph Hansell of FTI Consulting say business operations…
Australian dessert icon, Sara Lee, known for its frozen cheesecakes, pies, puddings, and crumbles, entered voluntary administration on Tuesday. The brand hopes to restructure and sell off the company while continuing operations. Vaughan Strawbridge, Kathryn Evans and Joseph Hansell from FTI Consulting were appointed as voluntary administrators on October 17. Catch the best deals and…
Opinion More businesses are looking down the barrel of insolvency, as an economic slowdown crimps sales and squeezes profit margins while borrowing costs soar. Karen MaleyColumnist Oct 17, 2023 5.50pm Companies are collapsing at the fastest clip in years, as soaring interest rates push their borrowing costs sharply higher, while slowing economic activity is causing…