A Rothschild’s Chocolate Bet Sours on Liquidation Plans

(Bloomberg) -- The Rothschilds have parlayed the proceeds of their banking empire into fine wines and artisan cheeses, but one branch of the clan is closing its business selling sugary goods.

The U.K. confectionary firm owned by Evelyn De Rothschild and his wife Lynn Forester is in liquidation, according to filings. Evelyn signed an order this month to wind-up London-based R Chocolate, which is expected to have assets of about 4,800 pounds ($6,315) after paying creditors.

R Chocolate is one of Evelyn and Lynn’s most well-publicized holdings, featured prominently alongside the Economist magazine and mobile-tower operator IHS Holding Ltd. on the website of their family investment firm, E.L. Rothschild. Its liquidation comes as retailers worldwide shut brick-and-mortar stores amid the fallout from the coronavirus pandemic and as more consumers shop online.

A spokeswoman for ReSolve Advisory, the firm managing R Chocolate’s liquidation, declined to comment. The Rothschilds didn’t respond to requests for comment sent to E.L. Rothschild.

Evelyn, 88, set up R Chocolate after stepping down in 2004 from the U.K. branch of his family’s banking empire. In 2007, he sold his shares in the holding company for the family’s banking assets for about 200 million euros ($236 million).

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