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Australians will be pleased to hear that beloved dessert brand Sara Lee is now Australian owned.
An offer by the Quinn family of Queensland to buy the business was today approved by 137 creditors with 2 against and 1 abstaining.
The business, established on the Central Coast at Lisarow in 1971, has been a household staple for many and was best known for their iconic cheesecakes, pies, crumbles and ice-creams.
The business was placed in voluntary administration on 17 October last year as its New Zealand owners struggled with debts of more than $50million.
The company still employs over 200 staff at its bakehouse in Lisarow, where desserts are baked fresh everyday and the company prides itself on promoting quality, authentic ingredients.
During the period of administration, eight staff took redundancies (5 administration staff, 2 production staff and 1 maintenance staff member).
Sale of Sara Lee products increased following news of the company’s troubles, and this assisted in the process of company reorganization.
“I want to thank our community for the support it has shown to the staff of Sara Lee during this difficult period. Todays vote is a great outcome for the staff and the Central Coast!” said Member for The Entrance, David Mehan.
Meanwhile, the developer of the Gosford Quarter on the city’s waterfront, St Hilliers, has entered administration.
WPL Restructing have been appointed administrators and have frozen work on over 20 constructions sites as the begin to unwind the company’s operations and assets including the construction of the first Gosford Quarter tower on the former public school site.
