Dec 15, 2017 Last Updated 4:28 PM, Dec 12, 2017

New Entry From the Editor :

Australian shopping empire Westfield sold to French property firm for $33 billion

Australian shopping empire Wes…

AusBN - Australian shopping mall juggernaut Westfield has been purchased by...

ASX introduces blockchain technology into trade settlement system

ASX introduces blockchain tech…

AusBN - Australian Securities Exchange (ASX) has become the first major glo...

Australia’s annual economic growth rate rises to 2.8%

Australia’s annual economic gr…

AusBN - Australia’s annual economic growth rate has risen to 2.8% aft...

Koko Black enters administration

chocolateAusBN – 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.

@AusBNonline

This Month's Issue

AusBN Vol3 Iss1

Subscribe

rgn web banner

abn web banner