A popular burger chain has collapsed with the owners blaming back to back interest rates for the decision to shut up shop.
Wing Fix closed its two venues in Coorparoo and Newmarket, in Brisbane, on November 13.
Owners Peter and Ross Jacobi have been left devastated with Mr Jacobi admitting the past five years had been difficult.
‘You probably couldn’t write a worse run for hospitality in particular, but small business or even business in general,’ Mr Jacobi told the Courier Mail.
‘It’s been really tough the last five years, but in particular the last two years, since back to back interest rate rises, which is something that the hospitality industry or small business haven’t really had to go through.’
Mr Jacobi said the brothers have been left heartbroken following the collapse of the popular eatery due to soaring operational costs.
The siblings started the restaurant out of a market stall seven years ago.
Mr Jacobi revealed the cost of staples such as fresh produce and dairy, has gone up by a massive 15 and 25 per cent.
‘When you combine that with a decrease in sales and already fine margins … it needs to become more expensive to become more viable for the business,’ he said.
The closure of the restaurants was announced in a social media post last month.
‘Unfortunately unprecedented economic times and increasing costs have forced us to make the very difficult decision to close our doors,’ the post read.
‘We would like to thank everyone, past and present, customers, staff, landlords, suppliers who have been on this journey with us.
‘Thank you Wing Kings and Queens … it’s not goodbye for us, it’s just see you later.’
Commenters expressed their shock and dissapointment at the closure of both venues.
‘Beyond devastated,;’ one person wrote.
‘I’m sorry to hear the sad news. Us Sydney customers will miss you Wing Fix,’ another person wrote.
‘It’s bloody sad when a small bizz closes its doors because our economy is so broken. Best of luck,’ a third added.
Daily Mail has contacted Wing Fix for further comment.