Adriano Zumbo’s patisserie business has reportedly entered into voluntary administration with the company struggling under the weight of significant debt.
Zumbo operates eight stores across Melbourne and Sydney, and the businesses are reportedly facing debts of up to $10 million.
Three of Zumbo's dessert companies have entered voluntary administration, with administrator DW Advisory appointed on 22 July.
Two of the companies operate eight Zumbo confectionery and pastry shops, and the third was operating behind a tea room that reportedly shut down a year ago.
Administrator Justin Holzman told SmartCompany the stores will continue to trade throughout the administration process, and at this point it was too early to determine the reason for the companies’ collapse.
Fairfax's Good Food reported a creditors meeting yesterday revealed the companies had an outstanding debt of around $10 million, however, those debts could reportedly be offset by the companies’ assets, which are estimated to be valued around $8 million.
The chef, dubbed the “sweet assassin”, “the Dark Lord of the Pastry Kitchen” and “Lord Voldecake”, among other nicknames, is best known for his extravagant and difficult dessert dishes.
