Sara Lee owes $94m, sale could be done by mid-Feb

Sara Lee products stocked in a central Auckland New World recently. (Image: BusinessDesk)

Thu, 16 Nov 2023

New Zealand-backed dessert brand Sara Lee owes its creditors across the Ditch at least A$87 million (NZ$94m), with its administrators expecting to complete a sale by early next year.Last month, NZ investment firm South Island Office called in FTI Consulting’s Vaughan Strawbridge, Kathryn Evans and Joseph Hansell as administrators to the Australian operating business after it bought it two years earlier from McCains.Operating for more than 25 years, Sara Lee, which has roughly 200 staff, manufactures its well-known frozen desserts at its N...

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