Do you like desserts? Talk about frozen pound cakes with your friends and the brand name Sara Lee will probably come up.
After all, which pound cakes are more well-known and well-loved than the iconic Sara Lee pound cakes?
The tin foil cake tins with the paper top covering the luscious pound cake is something that we all loved to snack on or have for breakfast.
Unfortunately, it may soon be the end of the beloved dessert brand if the Australian dessert giant’s plans to reform its financial situation fail.
Sara Lee is currently under administration as it seeks to solve its financial difficulties moving forward.
Here is more on what is happening to the famous brand.
Dessert Brand Sara Lee Is Under Voluntary Administration With Financial Difficulties
Things are not looking too rosy for Sara Lee as it struggles with financial difficulties.
The Australian dessert brand has gone into voluntary administration, as news reports of this surfaced on Australian media sites.
For those unaware, Sara Lee is a dessert brand hailing from Australia, with its origins reaching back over 50 years.
It was founded in New South Wales and has since taken over the world with its multiple frozen desserts.
While its frozen cheesecake is one of the desserts that catapulted the brand to public recognition, the pound cakes seem to be a local staple that once graced the plates of every child and adult in Singapore.
The Brand Is Looking To Restructure or Be Bought Over
Given this sad news, it is reasonable if you start worrying about whether you can continue to get your dessert fix with Sara Lee.
Thankfully, it seems that you can.
According to The Straits Times, which performed checks of their own, there are still Sara Lee products available in the major supermarket chains in Singapore, including Cold Storage and FairPrice.
What are you waiting for? It’s time to get cracking to keep those cakes before they run out!
That said, all is not lost yet, even if you don’t manage to stock up on the goodies. Especially if the brand’s efforts under administration bear fruit.
While under administration, Sara Lee’s administration (run by FTI Consulting) is looking to restructure its business or sell parts of it to make the business viable in the long term.
The brand will also have its management and staff continue operations in the meantime while working to secure operations, according to Sara Lee’s Vaughan Strawbridge (based on reports from the Australian Broadcasting Corporation).