This follows the appointment, by the directors, of Deloitte as voluntary administrators.
A readily recognised brand, Big Sister Foods was established in 1945 and is a significant manufacturer and wholesaler of fruit cakes, fruit mince pies, glacé cherries, muffins and cupcakes.
Big Sister Foods employs about 100 people across two manufacturing sites, in Ermington and Taren Point, NSW.
Mr Walley said PPB Advisory is now undertaking an urgent review of the business with a view to preparing Big Sister Foods for sale as a going concern.
“We will work with all stakeholders including employees and their representatives, customers and suppliers to ensure the business continues to operate effectively,” he said.
“We are keen to talk to any parties that may be interested in the opportunity to acquire all or part of this business,” added Mr Walley.
In a statement, PPB Advisory said the group will update all stakeholders on any meaningful developments via the creditors section of its website or by letter as soon as practicable.