Marasu's Petit Fours, which supplied prestigious brands including Fortnum & Mason, Selfridges, and Harrods, produced over 300 tonnes of chocolate annually from its 25,000 square foot base in Park Royal. Administrators Alessandro Sidoli and Jessica Barker of Xeinadin Corporate Recovery Limited were appointed to Marasu's Petit Fours on February 6. This collapse follows other recent upheavals in the sector, with Prestat entering a pre-pack administration process that closed its iconic London store and transitioned to an online-only model.
Prestat is being acquired by chocolate manufacturer L'Artisan du Chocolat, owned by Polus Capital Management, as part of the prepack agreement. Additionally, Beeches Fine Chocolates, a family-run firm in Preston, ceased trading after a century in business. The UK chocolate industry is facing challenges including rising cocoa costs, energy costs, packaging, transport, and raw material costs, and shifting consumer behavior.
Global cocoa prices have soared to record highs in 2024 due to disease and extreme weather in key producing nations like Ghana and Ivory Coast. Ghana and Ivory Coast together account for approximately 60% of the world's cocoa production.