Bombshell claims in W’Gusto Supermarkets Pty Ltd liquidation

A report into the shock collapse of a high-end grocery store on the Sunshine Coast claims the company may have been insolvent before even opening its doors.

Aerial view of the Dockside Village at Pelican Waters. Photo: Flux Property.

A report into the collapsed company behind a high-end grocery store claims the business may have been trading while insolvent, as the director blames a lack of an established customer base, a lack of parking and faulty checkout equipment for the failure.

The statutory report into the company, W’Gusto Supermarket Pty Ltd, was published with the corporate regulator earlier this month after it was placed into liquidation in March this year.

Liquidator Jason Bettles stated in the statutory report the supermarket began trading in Pelican Waters in July 2024 and was directed by Charles Gregory Weiss.

Australian Securities and Investments Commission documents stated Mr Weiss believed the company collapsed due to several reasons including a lack of parking and an issue with the register not scanning items.

“According to the director, the company started experiencing financial difficulties just prior to the Pelican Waters store opening due to the store being in a new development (and therefore, not having an established customer base), lack of available customer parking at the premises and products not scanning at the register,” the report stated.

“The director further advised that by the time these issues were resolved, the company’s cash flow never recovered.”

Mr Bettles claims in the report there may have been director-related transactions made with company funds prior to the closure and subsequent liquidation.

“Based on our preliminary review of the company’s CBA and ANZ bank statements, we identified frequent use of company funds for what appear to be director-related transactions,” the report also stated.

Mr Bettles claimed it “appears” Mr Weiss could owe the company money.

The supermarket opened in the Dockside Village at Pelican Waters in July 2024. Photo: Flux Property.

According to the report there are 42 unsecured creditors of the company, with eight secured creditors.

The report reveals the total debt claimed by creditors stands at $3.05m, as of June 2025.

The store’s landlord at the Pelican Waters site claimed the company owed them $2.55m from breaching the terms of the lease agreement, while unpaid employee entitlements total to about $81,000, according to the report, with about $68,000 in wages and superannuation.

Mr Bettles stated in the report it was unlikely a dividend would be paid to the unsecured creditors and claims there was an indication the company may have been trading while insolvent before June 30, 2024.

“Based on the above factors, it appears the company may have been insolvent since at least 30 June 2024, if not earlier,” the report stated.

No action has been taken by ASIC in relation to these claims. Mr Weiss has been contacted for comment.