Terribly sad news for the family owned Queensland based confectionery manufacturer, Chocolate Fare, who have now been placed in administration.
According to this report from SmartCompany the company has acquired a debt of $670,000 in debt and has recently been unable to pay the Australian Tax Office a $150,000 bill. As a result they have been forced to call in the administrators.
'It was this debt which likely caused the company to collapse' said administrators Jason Bettles who also confirmed the company is likely to be liquidated because:
'it doesn't look like the directors are going to put a deal to the creditors'.
Operating three main brands, The Rocky Rock Candy Company, Monique's Chocolates and Chocolate Fare, the company is the latest in a long line of small or family run confectionery businesses who have struggled in recent times. The most high profile of which was Darrell Lee who were placed into administration in July 2012.
Unfortunately their demise is testament to an industry which is dominated by intense consumer loyalty to a handful of extremely popular brands made by the likes of Cadbury, Nestly and Mars. A situation which evidently is having a massively debilitating effect on the chances of small and medium sized manufacturers sustaining a successful business.
Source: Smart Company
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