Fortitude Valley’s Eterna in liquidation after ASIC bans owner Stefano De Blasi

A popular inner Brisbane restaurant has entered liquidation after its two owners were disqualified from running companies by ASIC over their other failed companies.

Eterna Dining took over the old Longtime restaurant space at 610 Ann St, Fortitude Valley. Picture: Mark Cranitch.

A popular upscale Brisbane restaurant has been put into liquidation after its two owners were disqualified from running companies by Australia’s largest credit regulator over their other failed companies.

The federal court ordered Italian eatery Eterna to enter liquidation last week after the Australian Taxation Office applied to wind up the company.

Professional services firm Vincents’ restructuring and recovery director Ashley Leslie was appointed by the court as the liquidator for the restaurant.

“We are currently reviewing the financial position of the company to assess the options available to preserve and maximise the value of the assets for the benefit of all stakeholders,” Ms Leslie said.

“We will be engaging with stakeholders in the near future to determine the position going forward.”

The late-night hotspot, located in Fortitude Valley, aimed to serve traditional Roman-styled food to an upper-class market when it opened in 2020.

Eterna is a laneway restaurant hidden in Fortitude Valley. Picture: Eterna Dining/Facebook

Porchetta Di Ariccia- Slowly roasted pork belly roll, seasoned with fresh garlic and rosemary at Eterna. Picture: Mark Cranitch

After just a year the team announced that they were temporarily closing the highly praised diner but emphasised that it was not a “farewell” to their customers.

“Watch this space as we will keep you updated with all the latest news on our relocation,” the team said on Facebook at the time.

Their social media accounts have not been updated since then.

Restaurateur Stefano de Blasi at the site of his Italian restaurant Eterna. Picture: Liam Kidston.

Eterna co-owner Edoardo Perlo at Sydney’s Salt Meats Cheese warehouse. Picture: Daniel Aarons

Its director Stefano De Blasi and his co-owner Edoardo Perlo were disqualified from managing corporations by Australian Securities and Investments Commission until 2027 as their other three Sydney food retailers owed their debtors $2.8m in total.

Their family investment companies were both deregistered and were unable to be searched in the Australian Business Register.

Eterna was also owned by a mysterious third party Vannella that was founded in 2015, which has the same address as Mr De Blasi’s family investment.

Mr De Blasi and Mr Perlo were approached for comment.