Stone’s Throw at Norwood to remain closed after liquidation
A well known bar and restaurant at Norwood has fallen into liquidation following a dispute between its operator and the venue’s landlord.
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A Norwood bar and restaurant with a chequered history has fallen into liquidation following a dispute between its operator and the venue’s landlord.
Operators of Stone’s Throw on The Parade claim a disagreement over rent resulted in the venue’s permanent closure months after its doors were last open prior to the COVID-19 outbreak.
Shareholder Brett Viney, who owns the business with Matthew Mitchell, said negotiations broke down in the midst of the pandemic.
“We asked for a rent reduction three months prior to COVID and he (landlord) was non-negotiable,” he said.
“Once the rent review hit in June it was in the middle of COVID and that shut us down and has forced us into liquidation and potential litigation.”
Liquidators have also been appointed to dissolve The Bloody Mary Group - a separate entity led by Mr Viney and Mr Mitchell as directors and joint shareholders.
The group has been connected with a number of hospitality insolvencies in recent years, including The Archer in North Adelaide in 2018 and the Kincraig Hotel in Naracoorte in 2019.
It is also associated with CBD watering hole Saracens Head, which Mr Viney holds a majority stake in. The pub was listed for sale earlier this year.
Mr Viney maintained The Bloody Mary Group’s winding up would have no impact on ongoing operations at other venues including the Saracens Head.
“The Saracens is trading well and we’ll persist trading through COVID,” he said.
“The city’s still 50 per cent down and we’re looking forward to having stronger trading figures as long as the State Government encourages people to come back into the city.”
Mr Viney and Mr Mitchell took over Stone’s Throw in 2016.
The venue was previously known as Grace the Establishment, and was the last remnant of the restaurant empire previously operated by businessman Matthew Trim.
A company owned by Mr Trim subsequently went into liquidation with debts of $900,000.
Earlier this year the Supreme Court ordered Mr Viney and Mr Mitchell to pay $383,000 after they concealed lucrative deals with major breweries from their then-business partners Michael and Nicholas Crouch.
The court found the pair did not disclose the deals — negotiated with Carlton and United Breweries (CUB), Asahi and Coopers — for beer taps at the Windmill Hotel, which they later sold for about $425,000 less than they originally paid.
Mr Viney said he was unaware of how much creditors of the two insolvent companies were owed.
Liquidator Andrew Langshaw from DuncanPowell has been contacted for comment.