High-profile Brisbane restaurateur Stefano De Blasi banned by ASIC

A high-profile restaurateur who helped pioneer rooftop dining in Brisbane has been disqualified from running corporations after allegations three of his companies owed a total of $2.8 million.

Restaurateur Stefano de Blasi at his Italian restaurant Eterna in Fortitude Valley. ASIC has disqualified him from running corporations until 2027. Picture: Liam Kidston

High-profile restaurateur Stefano De Blasi, who helped pioneer rooftop dining in Brisbane, has been disqualified from running corporations after allegations three of his companies owed a total of $2.8 million.

Federal corporate watchdog the Australian Securities and Investments Commission (ASIC) has disqualified Stefano De Blasi, of Stafford Heights, from managing corporations for four years after his involvement in three failed Sydney food industry companies.

Mr De Blasi was a director of three companies between 2014 and 2020: Casa Gusto Pty Ltd; SMC Drummoyne Pty Ltd; and Popina Kitchen Pty Ltd, formerly trading as Salt Meats Cheese Circular Quay.

In relation to SMC and Popina, ASIC said it was “concerned that Mr De Blasi had traded the companies while insolvent, failed to meet statutory lodgement requirements to the Australian Taxation Office (ATO) and keep proper business records’’.

“The amount owed across the three companies totalled $2.8 million, including $1.3 million to the ATO and $162,000 for workers’ compensation insurance and payroll tax.’’

Mr De Blasi was contacted for comment.

Stefano de Blasi at the site for his restaurant La Costa. Picture: Mark Cranitch.

In 2020, the Fair Work Ombudsman took Mr De Blasi’s SMC Food Truck Pty Ltd to the Federal Circuit Court, alleging casual staff were paid only flat hourly rates and that no penalties for weekend work and overtime were paid between October, 2018 and February, 2020.

The West End-based wood-fired pizza truck business was a spin-off of Salt Meats Cheese, which has an outlet at Newstead and formerly one at South Bank which closed during lockdown.

Mr De Blasi has run a string of high-profile bars and restaurants in Brisbane and Sydney over the years including popular rooftop venues Lina Rooftop in South Brisbane and Cielo Rooftop in Bulimba.

Salts Meats Cheese Woodfired Pizza van.

He also co-founded and has been a director of Salt Meats Cheese Group, an Italian dining retail and cooking class chain which has outlets in Brisbane, Surfers Paradise and Sydney.

He has also been a co-founder and director of Bar Ombre in Sydney, La Costa in Fortitude Valley, Eterna Dining in the Valley, La Valle wine bar and shop, Let’s Rumba Brisbane, Evita Dining and Mina Italian in Bulimba.

La Valle was sold to an unrelated owner in January and La Costa was sold several months later. Cielo is on the rooftop of the La Costa building.

In deciding to disqualify Mr De Blasi, ASIC said it relied upon an initial statutory report lodged by liquidator Steven Kugel of The Insolvency Experts, who was appointed to Casa, and supplementary reports lodged by liquidators Andrew Sallway of BDO Australia, who was appointed to SMC and Adam Preiner of Integra Restructuring and Insolvency, who was appointed to Popina.

Edoardo Perlo.

Mr Preiner was assisted by funding from the Assetless Administration Fund, which is administered by ASIC, enabling the liquidator to investigate and report his findings.

Mr De Blasi is disqualified from managing corporations until August 21, 2027.

Mr De Blasi’s co-director of the three companies from 2015-2020, Edoardo Perlo, has also been disqualified for four years.

ASIC said in a statement that it was “concerned that Mr Perlo had traded the companies while insolvent, failed to meet statutory tax lodgement requirements, and keep proper business records’’.

Mr Perlo was contacted for comment.