A century-old Australian chocolate company collapses, dozens of workers will lose their jobs

An Australian chocolate maker has collapsed and gone into voluntary administration after operating for more than a century, according to sky news. Ernest Hillier Chocolates, Australia’s oldest chocolatier, announced on Wednesday that he had appointed volunteer administrators after struggling to keep up with operating costs, the outlet said in its report. The Melbourne-based company produces more than 600 chocolate products. WLP Restructuring, which has been cordoned off by the company, is now urgently seeking buyers to “recapitalize or acquire the business and its assets.”

“It is unfortunate that such a storied chocolate manufacturer has run into trouble due to rising operating costs, but we are working with all stakeholders to do everything we can to save this iconic brand,” said Alan Walker, Partner at restructuring of WLP, in a statement. according to sky news.

“We are working closely with all affected parties as we urgently move forward to understand the business issues and find a suitable buyer or investor,” he added.

He said that all production activity has stopped and dozens of employees will lose their jobs. However, Walker clarified that these workers will be on standby to restart production for the next owners, if a sale goes through.

According news.co.auErnest Hillier Chocolates has been in business since 1914 and its products are supplied throughout Australia and New Zealand.

This is the second time the chocolate maker has faced bankruptcy in the past eight years. It entered voluntary administration in 2015, but managed to reverse the situation.

The difficult economic situation has forced several restaurants and food chains in Australia to succumb. Sydney-based food chain Flipp Burger has gone into liquidation, days after a court ordered another restaurant in the city, Little Viet Kitchen, to close after it failed to pay its electricity bill.