Marasu’s Petit Fours, one of Britain’s leading luxury chocolate makers, has entered administration as of 6 February, shortly after the closure of its parent company Prestat’s flagship Piccadilly shop following 124 years of trading. Rising cocoa prices, which hit record highs in 2024, coupled with poor weather and crop disease, have severely impacted the chocolate industry. Joint administrators Alessandro Sidoli and Jessica Barker of Xeinadin Corporate Recovery Limited were appointed to oversee the process, though it remains unclear how many jobs could be at risk. Marasu’s Petit Fours, founded in 1987 and acquired by Prestat in 2006, has long supplied high-end retailers such as Selfridges, Harrods, Fortnum & Mason, and Pret a Manger, producing over 300 tonnes of chocolate annually from its Park Royal facility.

A pre-pack administration deal has been arranged, allowing Prestat to be sold to L’Artisan du Chocolat, owned by Polus Capital Management, and continue as an online-only business. Prestat, once holding two royal warrants and cited as one of the world’s top three chocolate shops, had inspired Roald Dahl’s mention of truffles in My Uncle Oswald. Marasu’s Petit Fours had established itself as London’s largest luxury chocolate manufacturer, but like many UK businesses, it has struggled under rising costs, taxes, and wages. The administration follows a wave of UK retail difficulties, including the collapse of The Original Factory Shop and Quiz, highlighting ongoing economic pressures and cautious consumer spending that are challenging even well-established brands.