UK chocolate maker plunges into administration – in business since 1986 | UK | News
A prestigious chocolate manufacturer in England has announced that it will go into administration after 40 years in business. Petit Fours in Marasu was founded in 1986 by pastry chefs Rolf Kern and Gabi Kohler, who wanted to make world-class chocolates for London’s top establishments.
The London-based business was acquired by Prestat Group in 2006 and has since supplied Prestat, Fortnum & Mason, Selfridges and Harrods. It is London’s largest producer of premium chocolate, producing over 300 tonnes annually from its 25,000 square meter premises in Park Royal.
Marasu was appointed manager on 6 February and was announced on 17 February. The cause of the collapse is not yet known; but this came after Prestat went into administration. The luxury chocolate maker, founded in 1902, closed its historic Piccadilly store in central London following the announcement, following financial pressure from poor sales and rising cocoa prices.
The chocolate industry has struggled in recent years, with global cocoa prices set to reach record levels in 2024 and cocoa crops affected by disease and extreme weather, including floods and droughts, in key producing countries including Ghana and Ivory Coast, which account for nearly 60% of world production.
The company also reportedly ran into difficulties after trying to expand its market using premium cocoa varieties such as Criollo, leaving it vulnerable to cheaper competitors.
The closing comes as part of a prepackage management agreement that sees the brand taken over by chocolate maker L’Artisan du Chocolat, which is owned by Polus Capital Management.
The deal was reached before the formal appointment of administrators and involves the sale of Prestat to L’Artisan du Chocolat for a nominal sum. Under the agreement, Prestat is expected to continue as an online-only brand.
Prestat held two Royal Warrants and counted the Royal Family, including Princess Diana, among his most famous clients. In fact, in 2003, The Economist magazine named it one of the three best chocolate shops in the world.
The Piccadilly store inspired Roald Dahl, who referenced Prestat’s truffles in his novel My Uncle Oswald. One of the few stores that continues to produce its own chocolates, the store is also said to have inspired the fantastic dessert shop in Charlie and the Chocolate Factory.
