London's biggest producer of luxury chocolates plunges into administration after 40 years

"London's largest producer of luxury chocolates has entered into administration after 40 years in business. With an annual production of more than 300 tonnes from its 25,000sq ft facilities in Park Royal, the company is the largest producer of premium chocolates, but it has struggled recently amid difficult market conditions. It comes after the luxury chocolatier's parent company, Prestat, closed its flagship store in Piccadilly last week."

"The move came as part of a prepack deal with chocolate maker L'Artisan du Chocolate, owned by Polus Capital Management, according to the Financial Times. The sale included its subsidiary firms Rococo Chocolates and Marasu Petit Fours, which supplied Harrods and Fortnum and Mason. Prestat was said to be the inspiration behind Roald Dahl's Charlie and the Chocolate Factor and had served customers for 124 years."

"Its difficulties come amid broader challenges for chocolate producers, who have been hit by disease outbreaks and unfavourable weather conditions that have reduced cocoa harvests in major producing countries such as Ivory Coast and Ghana, which account for 60% of the world's production. Cocoa prices climbed to record highs in 2024, squeezing chocolatiers' profit margins. The company has also reportedly faced hardships in attempting to expand its market using premium cocoa varieties which has left it vulnerable to cheaper competitors."

The London-based chocolatier produced more than 300 tonnes annually from 25,000 sq ft facilities in Park Royal and was the city's largest premium chocolate manufacturer. The firm entered administration after 40 years, coming shortly after its parent, Prestat, closed its Piccadilly flagship as part of a prepack sale to L'Artisan du Chocolate, owned by Polus Capital Management; the sale included Rococo Chocolates and Marasu Petit Fours. Prestat had operated for 124 years and was cited as Roald Dahl's inspiration. The company faced industry-wide cocoa shortages, record-high 2024 prices that squeezed margins, weakened demand, and competitive pressures from cheaper rivals amid premium expansion challenges.

Read at www.standard.co.uk