A major restaurant chain with six locations has collapsed, suddenly shutting all venues.
City Winery Brisbane Pty Ltd made the decision to enter voluntary liquidation on Wednesday, closing all venues across Queensland’s capital city.
Just five years after opening its first venue, all restaurants have now closed including its Fortitude Valley and Edward St locations, as well as Ardo’s locations at Newstead, Milton, Hawthorne and Graceville.
City Winery CEO Dave Cush said the rising cost-of-living crisis, as well as the impact of the Covid-19 pandemic led to the company’s demise.
Mr Cush said he was ‘heartbroken’ to make the ‘incredibly difficult decision’.
‘A drastic drop in consumer spending fuelled by the current cost of living and interest rate environment, coupled with increases in labour and operational costs, have all had too great of a compounding impact on our business, along with the historical effects of Covid and lockdowns, for us to continue to operate,’ he said.
Mr Cush said the recent opening of The Star was the ‘final nail’.’We simply cannot compete with an operation of that scale,’ he said.
City Winery Brisbane Pty Ltd on Wednesday made the decision to enter voluntary liquidation.
All venues have suddenly closed.
It is understood a number of staff have been terminated.
Darren Vardy from Insolvency Options Pty Ltd has been appointed as liquidator.
City Winery launched its first venue in 2019, opening a converted warehouse on Wandoo St offering winemaking masterclasses.
It was Brisbane’s first inner-city winery since 1860, with a second location opening on Edward St not long after.
Ardo’s launched in 2023 with its four venues.
Mr Cush offered his ‘heartfelt apologies’ and thanked customers for their support over the years.
‘You’re the reason we kept going as long as we could,’ he said.
‘I’m deeply sorry and distraught at the impact this has caused for your businesses.’