Peak Wine Bar, Maroochydore closes and appoints liquidator

A popular Sunshine Coast venue has closed its doors owing more than half a million dollars as the hospitality industry continues to struggle for survival in the region.

Peak Wine Bar on Ocean Street, Maroochydore.

A popular former wine bar turned Sunshine Coast nightclub is no more after its parent company became the latest hospitality venue to fold in the region.

Australian Securities and Investments Commission records show CR Cameron Enterprises Pty Ltd members decided on February 27, 2023 to appoint Dane Hammond of Worrells Solvency and Forensic Accountants as liquidator.

The company had traded as popular Peak Wine Bar on Ocean St, Maroochydore and Colin Cameron was listed in Commission documents as its sole director since its inception in 2007.

Worrells Principal Mr Hammond said initial investigations indicated the company currently owed more than $600,000, including unpaid staff entitlements and a debt to the Australian Taxation Office.

Peak Wine Bar posted an update on social media on Monday, March 6 describing the decision to close as a “sudden change” which came with “great regret”.

“Over the years, Peak has undergone several transformations, from a restaurant to a tapas wine bar, a cocktail bar, and finally, a nightclub,” the post said.

“We are immensely proud of the memories we have created and the experiences we have shared with our patrons.

The Peak Wine Bar on Ocean Street.

“On behalf of the entire Peak team, we extend our heartfelt appreciation to each and every one of you. We will deeply miss your presence and the memories we have created together.”

Mr Hammond said Peak Wine Bar was impacted by broader issues in the industry over a number of years.

“The company suffered a number of the widely publicised issues that have impacted the hospitality industry over the past few years,” Mr Hammond said.

Mr Hammond said initial investigations had uncovered approximately $610,000 in debt, but he added that number was likely to move.

“In terms of the company’s creditors, we are still gathering necessary information to determine the full extent of the debts,” Mr Hammond said.

“From information currently available it would appear there is approximately $280,000 owing to the ATO (Australian Taxation Office), employee entitlements including superannuation of $80,000, related party debts of $180,000 and trade creditors of approximately $70,000.

“It is very early in the liquidation process however, and I would anticipate these figures will change as better information becomes available.”

The collapse of Peak Wine Bar’s parent company follows other Sunshine Coast music venues unable to make ends meet such as NightQuarter and Eleven Dive Bar, all of which have closed in the past 12 months.

The operator of Peak Wine Bar did not respond when approached for comment.