The Matriarch set to cease operations in the latest hit to the Brisbane hospitality industry

The shattered co-owner of a cafe once touted as Brisbane’s most glamorous has opened up on “mental scars and skyrocketing costs” as the venue shuts.

A Brisbane hospitality venue co-owner and chef has told of his mental scars and skyrocketing costs as he confirms the closure of a popular restaurant and cocktail bar.

Hospitality entrepreneur and owner Jimmy Truong and co-owner Mathew Dewacht are set to cease operations of their French-inspired restaurant cocktail and high tea bar The Matriarch in June.

The 19th century Parisian-inspired venue, well known for its afternoon high tea, confirmed on its website it is set to close.

“After an amazing and difficult five years we have decided to cease trading after Sunday, June 9,” the post said.

“The past five years have been an experience that we will never forget, however, Covid needed a lot of fight and the current financial crisis is one fight to many.

“It is with a heavy heart that we have decided not to renew our lease and close our business. We thank you for your ongoing support and wish you all the best.”

The business’ social media pages have been flooded with comments from patrons, saddened by the announcement.

Co-owner and chef Mr Dewacht said the reinvestment to stay open after Covid wasn’t worth it in the current economy.

Brisbane’s The Matriarch is set to cease trading in June due to skyrocketing operational costs. Photo: Russell Shakespeare

“We are not forced to close, we just made the decision can we can’t mentally battle through basically another Covid, another economic crisis, this is the exactly same feeling as Covid. The revenue dried up, customers not coming in,” Mr Dewacht said.

“The exhaustion level, it’s not worth battling on again, to leave without being forced to like some other businesses who are going bankrupt.

“All businesses during Covid suffered quite a lot and we decided once we got through Covid we could reinvest. but the investment isn’t worth in the recent economy.”

Mr Dewacht said for many businesses coming out of Covid, they are still feeling the pinch and most have already “exhausted” financial avenues to continue operations.

Co-owner Mr Dewacht said businesses coming out of Covid are still feeling the pinch and most have already “exhausted” financial avenues. Photo: Russell Shakespeare

“For businesses that didn't have the Covid impacts and have just opened they won’t be impacted, but for everyone who was open during Covid, they’re exhausted,” he said.

Mr Dewacht said overheads and labour costs contributed to the decision to exit the market.

“On top of everything, labour costs are massive. I don’t think people take into account penalty rates it might be $24 minimum wage and on Saturday $40 who works casually and delivers coffees to tables,” he said.

“When their main trade is weekends that is a huge expense. Our labour costs equal 35 per cent of our expenses.”

Mr Dewacht said the owners made the decision 12 months ago to sell but were unable to secure a buyer and have ultimately made the decision to close its doors.

“There needs to be more government focus on small business and it needs to be fair across the board. We have one restaurant and we are paying more labour costs than some of the big boys,” he said.

This is the latest hospitality venue to disappear from Brisbane’s landscape, as liquidators have been called to wind down BCN Events Group operations cafe and patisserie Mica in Newstead, Mica Express in Brisbane’s CBD, King St Bakery in Bowen Hills, wholesale services provided by the Kneadery in Newstead and cooking school Lumiere.

Mr Truong is also behind Newstead’s Top Lashes Beauty Bar, and Brush and Barrel (where patrons sip and paint canvases).