Bowral two-hat restaurant Biota Dining was weighed down with liabilities of $761,708 and had just $698 in the bank when it slipped into liquidation.
A report from insolvency firm SV Partners paints a bleak picture for Viles Group (formerly trading as Biota Dining), with employees owed $288,368, trade creditors $207,283, the ATO $166,057 and related creditors $100,000. It had just $40,698 in assets.
“Our preliminary investigation has concluded that the company was likely insolvent from 1 July 2017.”
Liquidator Shumit Banerjeesaysbushfires had left the business vulnerable. “COVID was the final nail,” Banerjee says.
Operated by talented chef James Vil…
Read the full article at: https://www.goodfood.com.au/eat-out/news/twohatted-bowral-restaurant-biota-dining-in-liquidation-20200605-h1ok12
