Parent company of cafe The Good Place in Kawana appoints liquidator
A once-popular Sunshine Coast cafe company which held more than $60,000 worth of cryptocurrency among its assets has folded with debt claims of more than $150,000.
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The company behind a popular Sunshine Coast cafe has collapsed with claims of more than $150,000 worth of debt.
Australian Securities and Investments Commission records show members of TGP Kawana Pty Ltd voluntarily appointed O’Brien Palmer liquidator Daniel Frisken on February 8, 2023.
In an initial report to creditors, Mr Frisken said the company – registered in October, 2020 – traded as cafe The Good Place at Kawana Shoppingworld in Buddina, Sunshine Coast, and understood it had ceased trading before his appointment.
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Records show the company’s sole director was James McGovern, 35, who was appointed director in June, 2021, after former director Mustapha Habbouchi’s tenure ceased.
Mr McGovern is a high-profile businessman who started out as a Red Rooster kitchen hand at 14 before becoming chief executive of Nutrition Station at 25, and launching healthy cafe brand The Good Place in Kawana in 2020.
The Sunshine Coast Daily understands the brand had expanded to several other locations, including Brisbane, Sydney, and Rockhampton.
Mr Frisken said the liquidated company’s known total debt was more than $157,000, with more than $98,000 owed to the Australian Taxation Office and about $59,000 owed to employees in outstanding superannuation.
“The director is liable for the outstanding Superannuation Guarantee Charge and I understand he is in the process of paying this liability personally,” he said.
Mr Frisken, who has more than 19 years’ experience in business insolvency, said the company’s disclosed assets were more than $107,000, including debtors, related party loans, and crypto currencies.
Commission records of the company’s assets showed it held $63,000 in cryptocurrency.
Mr Frisken said he was currently pursuing recovery of these assets, and investigating the “demise” of the company.
Mr McGovern declined to respond to a series of questions.
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