Brisbane cafe chain FantAsia goes into liquidation

Queensland fast food chain FantAsia, which operated eight cafes in high-profile shopping centres around Brisbane, has closed its doors.

Queensland fast food chain FantAsia has collapsed after failing to recover from last year’s pandemic lockdown.

The chain, which operated eight cafes in high-profile shopping centres around Brisbane, started in 2012 offering modern takes on traditional Asian dishes including Singapore Noodles, Beijing Zha Jiang Noodles and Penang Curry Chicken.

Michael Dullaway and Mark Pearce, of Pearce & Heers, were appointed liquidators of Signature Chef and Signature Mark, the two companies that operated the chain. 

Mr Dullaway said the director of the company Jason Webster had advised liquidators that the failure of the business was due solely to Covid-19 and the resulting drop off in revenue.

“The companies ceased trading the stores prior to our appointment as liquidators, with the last store ceasing to trade in or about May,” said Mr Dullaway.

“The companies had no material assets at the date of liquidation.”

He said at this stage, he could not advise on the total amount owed to creditors, but was in the process of obtaining the information.

FantAsia at Indooroopilly Shopping Centre.

Modelled on popular fast-food chains such as Hong Kong’s Cafe de Coral, FantAsia was initially based in busy food courts at major shopping centres.

But last year, the company announced it was closing all its Westfield locations and instead focusing on new stores in the suburbs.

Last year the company opened an express FantAsia at Yamanto offering a slightly smaller menu but the diversification was not sufficient to stem losses.

Cafes, restaurants and catering companies lost an estimated $4 billion last year as a result of restrictions aimed at limiting the spread of Covid-19. Many of these businesses had been forced to adapt by offering takeaway and home delivery options.

Restaurants, pubs and cafes have been forced to limit seating numbers and swiftly adapt to rising demand for takeaway and home delivered meals.