Koko Black Voluntary Administrators

Media releases

Koko Black: Voluntary Administrators appointed

11 November 2015: Deloitte Restructuring Services Partners Sal Algeri and Glen Kanevsky have been appointed Joint Voluntary Administrators of Melbourne-based premium chocolate manufacturer and retailer Koko Black (ACN 060 294 144) effective 10 November 2015.

Koko Black was established in 2003 with a single outlet (a combined manufacturing facility and café) in the Royal Arcade in Melbourne’s CBD. Since then, the business has grown significantly, and today operates from 14 locations in Australia: Melbourne (7), Sydney (2), Perth (2), Brisbane (1), Adelaide (1) and Canberra (1). A recently opened outlet in Queenstown, New Zealand is not subject to the appointment.

Koko Black’s central manufacturing facility is in Coburg, Victoria. The business currently employs approximately 300 people across retail and manufacturing operations.

Sal Algeri, Deloitte Restructuring Services partner and joint Voluntary Administrator said: “Koko Black is synonymous with innovation and quality of product and service.

“The business expanded very rapidly and undertook a series of major projects over the past 18 months. In combination, the level of activity was beyond the resources of the business.

“Our appointment will not have any impact on Koko Black’s operations. It’s important that customers, suppliers and employees understand that it’s business as usual.

“Christmas is historically the strongest trading period of the year and we urge everyone to support the business during this time.

“We will be examining all options to recapitalise and restructure the business with a view to underpinning its future viability and growth.”

A first meeting of creditors will take place on 19 November 2015.

Creditor enquiries:
Email

Media Contact

Simon Rushton

Corporate Affairs & Communications
T: +61 2 9322 5562
M: +61 450 530 748
Email

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/au/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.

About Deloitte Australia
In Australia, the member firm is the Australian partnership of Deloitte Touche Tohmatsu. As one of Australia’s leading professional services firms, and winner of both the Australian Financial Review/CFO Audit Firm of the Year and Accounting Firm of the Year awards 2013, Deloitte Touche Tohmatsu and its affiliates provide audit, tax, consulting, and financial advisory services through approximately 6,000 people across the country. Focused on the creation of value and growth, and known as an employer of choice for innovative human resources programs, we are dedicated to helping our clients and our people excel. Formore information, please visit Deloitte’s web site at www.deloitte.com.au.

Liability limited by a scheme approved under Professional Standards Legislation.
Member of Deloitte Touche Tohmatsu Limited
© 2015 Deloitte Touche Tohmatsu

Did you find this useful?