// Luxury chocolate retailer Rococo has fallen into administration
// Insolvency specialists from BDO have been appointed to take care of the procedure
// A new buyer is being sought for the business
// Rococo’s five stores are operating as per usual for now and no redundancies have been made
Luxury chocolate retailer Rococo has fallen into administration, making it the latest victim of the UK’s tough high street conditions.
According to Press Association, the chocolatier appointed insolvency specialists BDO LLP as administrators on Thursday May 23.
Rococo is now searching for a buyer after bosses admitted they have been hit by “negative trading conditions”.
The chocolate brand employs 66 staff according to its most recent company accounts, and trades from five stores in London as well as online.
Rococo’s stores are continuing to trade and no redundancies have yet been made.
The business was founded in 1983 by Chantal Coady when she was 23, who has since written five books and was awarded an OBE in 2014 for “services to chocolate”.
On the day administrators were drafted in for Rococo, she tweeted:
“Difficult trading conditions negatively impacted the company’s working capital position and an administration was required to provide a stable financial platform to rescue the company,” Dartnail said.
“The joint administrators are continuing to trade Rococo Chocolates and are hopeful that a purchaser for the company or the business will be found.”