Zumbo's dessert empire in administration

Celebrity chef Adriano Zumbo's dessert empire has been placed into voluntary administration.

File image of Patissier Adriano Zumbo with his creation in Melbourne.

Celebrity patissier Adriano Zumbo's empire has been placed into voluntary administration. (AAP)

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 Mr 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," Mr 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, Mr Holzman said.

A creditor's meeting will be held in three weeks.

Mr Zumbo's management said they would not be commenting on the matter.


Share

1 min read

Published

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world