The voluntary administrators of chocolate snowball maker, Betta Foods, say they hope to announce a sale soon.
A number of parties have expressed interest in purchasing the Melbourne based confectioner, Cor Cordis, voluntary administrators of Betta Foods, said.
However the accounting firm said a company restructure was needed, which had resulted in 39 staff redundancies - 28 factory staff, and 11 administrative staff.
Cor Cordis managing partner Bruno Secatore said that the level of interest from potential buyers was an encouraging sign for the future of the business.
“We have received over 26 expressions of interest since we were appointed in late January. Most of these enquiries are from Australian based entities that are looking to purchase the assets of the Betta Foods business,” he said.
“We are expecting formal offers by the end of this week, and the signs are encouraging that there is a future for Betta Foods”.
Betta Foods makes Capricorn licorice, Eskimo chocolate snowballs and ice cream cones and has revenues of around $40 million.
In January the company followed in the footsteps of its Melbourne confectionery counterpart, Ernest Hillier, and entered voluntary administration.
Like Hillier's, it was owned by British restructuring firm Re:Capital, which bought the company in October last year.
