Buyers hungry for struggling Darrell Lea

Darrell Lea's administrators are in advanced negotiations with four local and international players interested in buying the chocolate maker. 

Administrator Mark Robinson hopes a firm offer will be made within the next fortnight as his firm sifts through expressions of interest from 90 parties made up of trade, strategic, local and offshore interests. 

Mr Robinson said four of the parties, which were involved in sale talks before Darrell Lea went into voluntary administration 10 days ago, were at a more advanced level of talks. 

"They're on the fast track," Mr Robinson said after a creditors meeting in Sydney. 

"They're the most advanced."

He revealed that, while extensive resources had been funnelled into assessing 90 indications of interest, there were only around 15 to 20 credible prospects.

"We would hope that in about 10 days' time we would get indications in their interest in the whole business or parts of the business," Mr Robinson said.

He is confident that every potential purchaser has been identified, with potential buyers being divided into groups of "hot prospects" and "less credible prospects". 

Mr Robinson was also unable to confirm whether any firm offers had been made for the whole of Darrell Lea or if the 85-year-old family-owned company would be broken up. 

"We've had some high-level expressions of interest to which there have been a number of questions that we're negotiating," he said.

"It's too early to tell."

Darrell Lea will continue to trade as normal while the offers continue to be assessed and employees will still be paid their ordinary wages.

But Mr Robinson was unable to say how much Darrell Lea owed creditors, the value of its assets or how many of the company's 700 workers would lose their jobs.

Meanwhile, Darrell Lea has managed to double its sales and meet its trading expectations since it went into administration.

"Thanks to the hard work of employees since our appointment, sales have increased two-fold primarily due to public support," Mr Robinson said.

Mr Robinson was also unable to confirm reports that employees had been told they had four to five weeks before the company would be placed in liquidation.

"I didn't personally tell them that," he said.

Administrators PPB Advisory were appointed to Darrell Lea on July 10 to help prepare the struggling company for sale.

A second creditors' meeting is expected be held once the business is sold.

The company is 100 per cent owned by the Lea family, who established their chocolate business in 1927.

Source: ABC News, 20 July 2012