BDO Update on Good Group Australia (Botswana Butchery and other Restaurants)
BDO Update on Good Group Australia (Botswana Butchery and other Restaurants)
The Voluntary Administrators of Good Group Australia and its subsidiaries, Duncan Clubb and Andrew Sallway of BDO in Australia, advise that the Botswana Butchery Sydney, Canberra, and Melbourne venues will cease to trade today.
The operations of the New Zealand Good Group entities are not affected.
Prior to and during the Voluntary Administration, the group’s shareholders funded the trading costs of the group’s Australian operations, in an effort to turn around the group’s operations. Due to the significant cash losses being incurred in operating the restaurants, the group’s shareholders are no longer able to fund the ongoing trading and restructuring costs. Accordingly, the group’s remaining restaurant venues will cease to trade today.
The group’s shareholders are finalising the terms of a Deed of Company Arrangement (DOCA) proposal for the consideration of creditors when the Voluntary Administrators reconvene the meeting of creditors where the group’s future is determined. The meeting commenced on 7 May 2024, before being adjourned. Creditors will receive notice of the time and how to attend this meeting shortly.
The group’s Director’s have advised that for customers with valid pre-paid restaurant vouchers or pre-paid reservations, the Group will provide a full refund or voucher for the group’s New Zealand restaurants. Further details are available on the restaurants’ website.
The group’s Directors would like to express their gratitude to the group’s dedicated staff for their invaluable contribution to the business. The Directors also thank the support and patronage of the restaurants' customers, and invite customers to dine at the group’s Auckland or Queenstown restaurants in future.
The Administrators thank the restaurants’ employees, suppliers, and customers for their support throughout the Voluntary Administration.
Should employees, suppliers, or creditors have any questions, please contact Ms Margie Lutvey of BDO on 02 8264 6565 or Margie.Lutvey@bdo.com.au.
Media enquiries:
Jotham Lian
Manager, Media, BDO in Australia
jotham.lian@bdo.com.au