Esteemed UK Chocolate Maker Enters Administration After 40 Years
A respected UK chocolate maker has recently entered administration after 40 years of operation. Marasu’s Petit Fours, a renowned chocolatier based in London, appointed administrators on February 6, 2024. This news was made public shortly thereafter, marking a significant downturn for the company.
Company History and Acquisition
Founded in 1986 by Rolf Kern and Gabi Kohler, Marasu’s Petit Fours aimed to produce premium chocolates for prestigious establishments in London. The brand gained fame and was acquired by the Prestat Group in 2006. It successfully supplied chocolates to high-end retailers like:
- Prestat
- Fortnum & Mason
- Selfridges
- Harrods
Recent Developments
On February 17, the chocolate maker confirmed its fall into administration. Although the specific reasons for the company’s decline remain unclear, it follows a recent trend as Prestat also entered administration. Financial troubles reportedly stem from poor sales and rising cocoa prices.
Challenges Facing the Industry
The chocolate industry is currently experiencing significant challenges. Global cocoa prices have soared to record highs in 2024. In addition, adverse weather conditions and disease have impacted cocoa crops in key producing countries such as:
- Ghana
- Ivory Coast
Together, these countries contribute about 60% of the world’s cocoa production. Marasu’s Petit Fours also attempted to expand its market by using premium cocoa varieties, like Criollo, making it vulnerable to competition from lower-cost brands.
Prepack Administration Deal
In a strategic move, Marasu’s Petit Fours’ closure is part of a prepack administration deal. The brand will be taken over by L’Artisan du Chocolat, a company owned by Polus Capital Management. This agreement was secured prior to the formal appointment of administrators.
The sale involves transferring Prestat to L’Artisan du Chocolat for a nominal amount, with expectations that Prestat will operate as an online-only brand moving forward.
Legacy and Cultural Impact
Prestat held two Royal Warrants, indicating its status as a supplier to the Royal Family. The shop was frequented by notable clients, including Princess Diana. Additionally, its Piccadilly location was featured in Roald Dahl’s works, where he mentioned Prestat’s truffles in his story “My Uncle Oswald.” Moreover, it is said that the shop inspired elements of the fanciful sweet shop depicted in “Charlie and the Chocolate Factory.”
The closure of Marasu’s Petit Fours marks a notable moment in the UK chocolate industry, reflecting both the challenges faced by traditional makers and the evolving market landscape.
