A popular pizza chain is teetering on the brink of collapse with more than 100 jobs on the line.
Bondi Pizza has appointed administrators with the chain looking for a buyer.
The businesses that have fallen into administration include Casual Dining Concepts (Holdings) Pty Ltd and Casual Dining Concepts (Leasing) Pty Ltd.
Casual Dining Concepts (Stores) Pty Ltd, Casual Dining Concepts (Trading) Pty Ltd, Bondi Pizza Bar & Grill (Macquarie) Pty Ltd, Bondi Pizza Bar & Grill (Parramatta) Pty Ltd and Bondi Pizza Bar & Grill (Eastgardens) Pty Ltd are also on the list.
Bondi Pizza (pictured) has appointed administrators and the restaurant chain currently looking for a buyer
The businesses are all owned by the sole director of the restaurant Gary Linz.
Three Bondi Pizza eateries in NSW located in Parramatta, Macquarie Centre in Macquarie Park and Westfield’s Eastgardens in Sydney’s southeast have all been affected.
A Bondi Pizza eatery that was opened up in Randwick however has not been affected as it is a separate business.
Johnathan Keenan and Peter Krejci from insolvency firm BRI Ferrier were appointed as the administrators of the once popular restaurant last Wednesday.
Mr Keenan and Mr Krejci took over the business with they are considering all options to save the restaurant chain and the 120 staff employed by the eatery.
Expressions of intertest from potential buyers to take over the business is currently underway.
Efforts to restructure the restaurant are also being made.
The business which operates three restaurants in NSW have all collapsed and administrators were appointed to take over the once popular enterprise last week (pictured diner having a pizza at a Bondi Pizza restaurant)
Mr Keenan told Daily Mail that the restaurant encountered difficult trading conditions due to the COVID-19 pandemic that left the business struggling for some time.
‘We’re working closely with the directors and management to keep trading the business,’ he said.
‘We’re looking to restructure the business in a positive way’.
The business is understood to be in a significant amount of debt with creditors and staff among those yet to be paid.
Most of the payments owed to them however is understood to be up to date.
Mr Keenan said it is too early to assess the financial situation of the restaurant but he said the business is in ‘distress’
A creditors meeting is set to be held on March 11.
The restaurant’s website has not been taken down and the owners of the business have not indicated that the company has entered into administration on the webpage.
More to come.