George Calombaris’s 22-company empire enters voluntary administration
George Calombaris’s restaurant empire has collapsed, with the celebrity chef putting all 22 companies under his Made Establishment Group into voluntary administration on Monday afternoon.
Appointing advisory and investment firm KordaMentha, Calombaris said the decision was made with deep sadness.
“My dream for Made Establishment 13 years ago was a vision to create something truly special for all those who entered our restaurants,” Calombaris said in a statement.
“Although we have all continued to work tirelessly and overcome the many challenges we have recently experienced, it is with deep sadness and regret that today Made Establishment has been placed into voluntary administration.”
According to the administrators, rebrands across Made Establishments restaurant portfolio failed to revitalise consumer interest following a 2017 enforceable action by the Fair Work Ombudsman after Made self-disclosed $7.8 million underpayments across a number of its brands.
“Other factors were generally difficult trading conditions in the hospitality industry in recent years due to the expansion of the on-demand economy via services such as UberEats and Deliveroo, increasing costs, fierce industry competition and changes in consumer tastes to favour cheaper mid-tier dining options,” said KordaMentha partner Craig Shepard.
The decision puts around 400 jobs at risk, though KordaMentha said in a statement that staff have been paid outstanding wages and superannuation up to the date it was appointed.
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