Marasu’s Petit Fours, one of Britain’s leading luxury chocolate makers, entered administration on 6 February. The move followed the closure of its parent company Prestat flagship shop in Piccadilly after 124 years of trading.

The administration reflects mounting pressure across the chocolate industry. Cocoa prices reached record highs in 2024, driven by poor weather and crop disease affecting global harvests. These rising costs have squeezed margins for premium chocolate producers.

Joint administrators Alessandro Sidoli and Jessica Barker of Xeinadin Corporate Recovery Limited were appointed to oversee the process. At this stage, it remains unclear how many jobs may be affected by the restructuring.

Founded in 1987, Marasu’s Petit Fours built a reputation for high-quality chocolate production before being acquired by Prestat in 2006. The company became a key supplier to prestigious retailers and hospitality brands.

Its client list included Selfridges, Harrods, Fortnum & Mason, and Pret A Manger. From its Park Royal facility, the company produced more than 300 tonnes of chocolate each year.

A pre-pack administration deal has been arranged that allows Prestat to be sold to L’Artisan du Chocolat, which is owned by Polus Capital Management. The plan enables Prestat to continue operating as an online-only business.

Prestat previously held two royal warrants and was widely recognised as one of the world’s top chocolate shops. Its reputation even reached literature, inspiring a truffle reference in My Uncle Oswald by Roald Dahl.

Despite its scale as London’s largest luxury chocolate manufacturer, Marasu’s struggled with rising costs, taxes, and wages. Its administration mirrors broader UK retail challenges, including difficulties faced by The Original Factory Shop and Quiz, highlighting ongoing economic pressure and cautious consumer spending.