Rosella food company goes into receivership

The Australian food manufacturer which owns the Rosella brand has gone into receivership.

As well as the Sydney-based Rosella, Gourmet Food Holdings owns Pitango which is also based in Sydney and Waterwheel and manufactures at Dandenong in Victoria.

Receivers Ferrier Hodgson say Gourmet Food Holdings' secured creditor had lent the company support for an extended period while trying to find a buyer for the company.

However, a buyer could not be found and the receivers say they will urgently review the company's operations.

"The receivers will be undertaking an urgent assessment of the financial position of the group," said Ferrier Hodgson partner Steve Sherman.

"We will be engaging in discussions with key stakeholders including employees, customers and suppliers to determine whether operations can be continued." The receivership comes after the secured creditor had appointed voluntary administrators last Friday.

Ferrier Hodgson says an expressions of interest campaign will be launched in the next 24 to 48 hours to try and identify potential buyers for the company.

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