THE receiver of the manufacturer behind Rosella says he's confident the business will continue to trade during the hunt for a buyer.
Gourmet Food Holdings was placed into receivership last Friday, creating uncertainty for its 275 workers, although yesterday they were reassured about their positions in the run-up to Christmas.Today, Ferrier Hodgson partner Jim Sarantinos said support from customers, suppliers and transport providers gave him confidence the group would remain a going concern while the sales process was explored.
The future of the business depends on that support continuing, Mr Sarantinos said.
"Given the level of interest in the business amongst potential buyers, I have an increasing degree of confidence that the group has a future," he said.
"A sale is the key to the long-term future of the business."
Mr Sarantinos said he had already received almost 100 expressions of interest from potential buyers who were considering purchasing all or part of the business.
After a preliminary review of employee entitlements and the company's assets, it appeared they were all likely to be paid in full, regardless of the outcome of the sale process, he said.
This should provide staff with a degree of confidence going into the Christmas period, Mr Sarantinos said.
The group's interests include sauce, spice and chutney manufacturer Rosella based at Seven Hills, NSW; Auckland-based organic soups and pre-made meals maker Pitango; and crispbreads and cracker maker Waterwheel based in Dandenong, Victoria.
