Yeppoon Waterfront Seafood Bar & Grill administration totals $900,000
The Waterfront Seafood Bar & Grill closed in March as the former director filed for personal bankruptcy. An administration has since been filed and new documents have outlined the extent of money owed.
Rockhampton
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New documents for the administration of Yeppoon Waterfront Seafood Bar & Grill have revealed the company owes $825,000 in debts and almost $65,000 in wages to former employees.
The Anzac Parade restaurant opened in April 2021 and closed in March this year.
The former director, Jason Watkins, filed for personal bankruptcy two days after the sudden closure.
Bankruptcy documents viewed by this publication stated he owed $732,057.
The company was then placed into administration on July 28, with Michael Beck and Nikhil Khatri appointed.
In a report dated August 25, employees are owed $64,956 in wages and superannuation, unsecured creditors a sum of $528,293 and secured creditors are owed $297,823.
The company’s files state plant and equipment with a value of $48,115 however this has not been able to be located by the administrators.
There was no available remaining stock given the perishable nature of the business.
Preliminary investigations by the administrators have determined the company may have been insolvent for the duration of its trading, however more investigations would be needed to ascertain more details.
The restaurant site remains closed and appears to be empty.
YEPPOON WATERFRONT SEAFOOD BAR & GRILL ADMINISTRATION
UNSECURED CREDITORS:
Ad Strategy: $5,700
Australian Taxation Office: $138,827
Beemart Enterprises: $10,800
Beyond Print: $450
Bidfood Rockhampton: $17,713.12
Central Commercial Electrics: $220
Coca Cola Amati: $1,400
Commonwealth Bank: $4,000
CQ Septics & Waste Management: $1,100
Echelon Retail (landlord): $38,202
Ergon Energy: $10,291
GoodeAir Refrigeration & Airconditioning: $650
Latitude Financial Services: $27,500
Latitude Financial Services: $5,000
Livingstone Shire Council: $110
Locktek: $207
Office National Xpress: $300
On Deck Capital Australia: $123,000
Origin Energy: $1,500
Pac Plus Wholesalers: $3,000
PFD Food Services: $40,615.44
Poscom Point of Sale: $1,200
Railway Hotel Yeppoon: $700
Visual Sounds: $250
Rockhampton Fine Foods: $900
Rocky’s Own Transport: $400
Rosslyn Bay Fisherman Market: $7,100
Shannahan Swaffield Partners: $9,988.80
Stephen Davidson: $1,400
Supagas: $130
The Amazing Cup: $750
Zippys CQ: $90
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