An upmarket steakhouse chain has collapsed owing $23m and leaving 200 people without jobs, blaming ‘adverse trading conditions’.
The restaurants’ parent company, Good Group Australia, went into voluntary administration on March 31, naming BDO as their administrator for their high-end steak and Asian restaurants.
White and Wong’s ceased trading in April at their Martin Place restaurant in Sydney and one at Chadstone in Melbourne, as well as Wong Baby in Melbourne’s Chapel Street – with the steakhouses remaining open.
BDO’s administrators, Andrew Sallway and Duncan Clubb, closed down Botswana Butchery’s three restaurants on Tuesday, with the restaurant’s managers posting they were ‘disappointed’.
‘It is with deep regret that we have made the unfortunate, but necessary decision to close our Botswana Butchery businesses in Sydney, Melbourne and Canberra,’ they said’
The upmarket steak restaurants kept trading after their parent company went into voluntary administration on March 31. The restaurant had locations in Sydney, Melbourne and Canberra
Botswana Butchery had an extensive meat selection and charged diners $390 for a 1.6kg wagyu tomahawk steak. The restaurant also catered to non-meat eaters and had lobster and seafood on their menu
‘All effective end of day Tuesday 14th May 2024, due to adverse trading conditions.
‘While we are disappointed with this outcome, unfortunately we had exhausted every option.’
The restaurant chain found success in New Zealand first before expanding to Sydney and Melbourne in 2022.
New Zealand operations at Good Group were not affected by the voluntary administration.
The Sydney Botswana Butchery in Sydney boasted seating for 300 guests across three floors and could accommodate over 900 standing.
Botswana Butchery’s Sydney’s Martin Place restaurant (pictured) was on three levels and had seating for 300 people, or 900 standing guests
Managers of the chain posted on social media they were disappointed and blamed ‘adverse trading conditions’
At the time of voluntary administration, the ritzy chain had a 1.6kg wagyu tomahawk steak for $390 and the restaurant’s website showed caviar being served as well as gold-dusted meat and desserts.
Although the menu had an extensive meat selection, diners could still order lobster and other seafood.
BDO administrators told news.com.au they found the business was no longer viable as the restaurants continued to lose money.
‘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,’ they said.
Continuing to operate the three restaurants was incurring an operating loss of $207,000 in just over a month, the administrators found in an earlier report.
Customers who have vouchers or made prepaid reservations will get their money back.
Good Group Australia’s directors have advised customers won’t be left out of pocket and will be offered a full refund or voucher to dine at the company’s New Zealand restaurants – which remain open and unaffected.
