Kyosk Cafe in Ocean Grove wound up, owes $140k in super, $570k in tax

A former Ocean Grove cafe that owes $140,000 in superannuation and $570,000 in tax has been wound up.

The former Kyosk Cafe in Ocean Grove has been wound up, with ASIC documents revealing the company owed $570k to the tax office.

An Ocean Grove cafe has been placed into liquidation owing $570,000 in tax and just under $140,000 in superannuation.

C&M&S Pty Ltd, which operated as the Kyosk Cafe, was wound up on October 30 after a liquidator was appointed.

According to Australian Securities and Investments Commission (ASIC) documents, the business was first registered in July 2018 and lists Caroline Tayler and Stephanie Hope as the directors.

On Thursday Ms Hope said she would not comment on the situation.

The ASIC documents show the company owed $590,000 with the majority being owed to the tax office.

The cafe was located on The Parade, and specialised in vegan and gluten-free food.

Ben te Wierik of BTW Advisory was appointed liquidator and said the business was sold at the end of November 2023 and ceased to trade at that time.

“Unfortunately the proceeds of the sale of that business were not sufficient to discharge all the company’s debt and the company was placed in liquidation,” Mr te Wierik said.

Mr te Wierik said his investigations into the company were still continuing.

Mr te Wierik said hospitality businesses face competing challenges including the inability to pass on rising input costs like electricity, gas, wages, insurance and cost of goods and reduced customer spend because of tighter household budgets due to cost-of-living pressures.

“It’s difficult for hospitality operators to pass on these increased costs by simply increasing prices when customers have less money to spend,” he said.

The most recent ASIC insolvency statistics show insolvency appointments for companies operating in the accommodation and food services sector have almost doubled.

The ASIC Insolvency statistics for the financial year July 1, 2024 to October 27, 2024 show a 94.5 per cent increase in insolvency appointments for companies operating in accommodation and food services compared to the same period last year.

There have been 885 insolvency appointments since July 1, 2024 to October 27, 2024 compared to 455 insolvency appointments from July 1, 2023 to October 27, 2023.

Kala, a Greek restaurant opened by Andy Symeonakis (ex-1915 head chef), his wife Kylie Symeonakis, Kylie’s younger sister Amy Springer and Amy’s partner Luca Guadagni now operate in what used to be the Kyosk cafe.

Originally published as Kyosk Cafe in Ocean Grove wound up, owes $140k in super, $570k in tax