Committing to using renewable energies and reducing waste in order to become more environmentally sustainable is becoming more and more popular amongst businesses, arguably largely pushed by a demand by consumers and climate change concerns. Most recently, it is the Japenses brewing and spirits giant – Asahi – which has joined other brewers, Lion and Read More…
Zumbo’s dessert empire in administration
Thu 2 August 2018 - 4:19 pmNews
Celebrity chef Adriano Zumbo’s dessert empire will continue trading while under voluntary administration, the group’s administrator says.
DW Advisory principals Justin Holzman and Anthony Elkerton were appointed voluntary administrators on July 22 to manage three of Zumbo’s businesses.
The three companies employ about 130 people and operate five patisseries in NSW and three in Victoria.
“We’re still continuing to trade as normal (and) we are hopeful that there will be a restructure by way of a deed of company arrangement,” Holzman told AAP on Thursday.
“That’s something we are investigating over the course of the next two weeks and we will be providing creditors with a further report in two weeks’ time.”
It is understood the businesses owe millions to creditors.
The list of entities owed money include “a large secure creditor”, the Australian Taxation Office and a number of suppliers, trade creditors and landlords as well as employees with entitlements owing, Holzman said.
A creditor’s meeting will be held in three weeks.
Zumbo’s management said they would not be commenting on the matter.
- December 13 2019 LinkedIn reveals the top 15 emerging jobs for 2020
- December 11 2019 ‘Responsible’ superannuation investing outperforms
- December 6 2019 Sydney event marks Top10 Dynamic Entrepreneur awards
- December 5 2019 Supplement products will be impacted by new stricter regulations