Company behind The Drunken Dumpling, Miyako Lounge in liquidation
The six-figure debt owed by the company behind two popular Ocean St bars which “indefinitely” closed their doors has been revealed by liquidators.
Sunshine Coast
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The demise of a company behind two popular Ocean Street bars has been laid bare with a six-figure debt revealed by liquidators.
The company behind former Ocean St venues, The Drunken Dumpling SC and more recently the Miyako Lounge – Hosbros Pty Ltd – entered liquidation on October 9, 2023, according to Australian Securities and Investments Commission notices.
Commission documents seen by the Sunshine Coast Daily show Hosbros Pty Ltd owes a total of $266,971 to creditors.
Among the creditors is the deputy commissioner of taxation, with approximately $29,680 owed in unpaid superannuation.
The company’s former director Joseph Sandagon is also listed as an unsecured creditor for $128,072.
The former company behind Mexican restaurant Juan Fifty at Alexandra Headland – Juan Fifty Pty Ltd – is also listed as an unsecured creditor for $8347.
The Miyako Lounge announced its closure on Facebook in June, posting they were closing the doors “indefinitely”.
“We'd like to thank all the loyal regulars that supported us as Miyako Lounge & The Drunken Dumpling,” the post stated.
“We hope that in our time here on Ocean Street we have been able to help create some fond memories with your closest.
“It is with a heavy heart that we say goodbye and close the doors indefinitely.”
Prior to the opening of Miyako Lounge, the venue at 1 Ocean St was opened as The Drunken Dumpling in 2020.
Former director of Hosbros Pty Ltd, Mr Sandagon, is also the former director of Juan Fifty Ptd Ltd and Good Bar Mooloolaba Pty Ltd – which Australian Securities and Investments Commission documents state are both currently in liquidation.
Liquidator Jason Cronan said Juan Fifty Pty Ltd owes debts of $439,000 and Commission documents show Good Bar Mooloolaba Pty Ltd owed debts of $185,224 in July 2023.
The restaurant Juan Fifty continues to operate under a different company.
Mr Cronan said given the circumstances it had not been viable to pursue any insolvent trading claims and there is no suggestion of any wrongdoing by Mr Sandagon.
The Commission report states the winding up of Hosbros was not expected to take any longer than three months.
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