PHOTO: Bondi Pizza
A popular pizza chain is on the verge of collapse, putting over 100 jobs at risk. Bondi Pizza has entered administration, seeking a buyer to salvage the business. The companies under administration include Casual Dining Concepts (Holdings) Pty Ltd and Casual Dining Concepts (Leasing) Pty Ltd, along with several others such as Casual Dining Concepts (Stores) Pty Ltd and Bondi Pizza Bar & Grill branches. These establishments are all owned by Gary Linz, the sole director.
Three Bondi Pizza outlets in NSW—located in Parramatta, Macquarie Centre in Macquarie Park, and Westfield’s Eastgardens in Sydney’s southeast—are affected, while a separate entity in Randwick remains unaffected. Johnathan Keenan and Peter Krejci from insolvency firm BRI Ferrier have been appointed administrators to handle the situation.
Bondi Pizza (pictured) has appointed administrators and the restaurant chain currently looking for a buyer
Keenan and Krejci are exploring various options to save the restaurant chain and its 120 employees. They are currently seeking expressions of interest from potential buyers and are also working on restructuring efforts. The business has suffered due to challenging trading conditions exacerbated by the COVID-19 pandemic, according to Mr. Keenan.
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)
Despite the difficulties, the administrators are striving to maintain business operations and are committed to restructuring positively. The restaurant faces significant debt, with creditors and staff awaiting payments, although most payments owed are reportedly up to date. The financial situation of the restaurant is being assessed, with a creditors’ meeting scheduled for March 11.
Despite the challenges, the restaurant’s website remains active, with no indication of the company’s administration status.
SOURCE: THE DAILY MAIL