Adriano Zumbo reveals emotional toll of his failed business empire
Celebrity pastry chef and TV host Adriano Zumbo has opened up about the downfall of his multimillion-dollar business empire, saying it left him questioning who he really was.
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Exclusive: Celebrity pastry chef Adriano Zumbo has opened up about the downfall of his multimillion-dollar business empire and the toll it has taken on him, saying he felt “unworthy” of his role on his own TV show.
As season two of Seven’s show Zumbo’s Just Desserts airs across Australia, Zumbo has detailed for the first time how his dream “fell apart” after his three businesses went into voluntary administration and liquidation with a reported $10 million debt.
In an emotional post on social media, Zumbo said he had been through a “real surreal experience”.
“This time around filming this just over 12 months ago, while going through the hardest, emotional and most challenging part of my life so far,” he said on Instagram.
“While what I had worked for endlessly 24/7 for the past 12 years fell apart in front of me from my mistakes and financial difficulties, through an experience where you tell yourself and everyone involved everyday we will beat this!”
Zumbo said he had let “good people down”, which affected his mental health.
“The reality is everything you pray to go your way, doesn’t always happen. And you unintentionally let a lot of good people down,’ he said.
“Which drains you mentally and emotionally as you beat yourself up inside the mind.”
Zumbo said he struggled while filming the show’s second season for Seven, saying he was “split down the middle”, questioning himself.
“Going into what is an amazing opportunity on the other side of my life with this second season of the show split me down the middle, trying to create and be creative with so much weight and pressure on your shoulders as your business goes through administration, with liquidation and closure closing in!,” he said.
“Every spare moment meeting with potential possibilities to find a solution to maybe keep that chapter of the dream alive.
“Then the reality of no one will throw good money at bad money, but only interested in the good of the brand name.
“Everyday going to the studio I felt unworthy of being in the role I was in, while this was happening, how could I be this colourful fun Dessert Maker host, when everything that probably got me this opportunity was failing.”
Zumbo’s three companies 611 Pty Ltd, Mel611 Pty Ltd and I’m So Fancy Pty Ltd had administrators from DW Advisory appointed on July 22 last year, after Zumbo owed millions of dollars to the ANZ Bank, tax office, employees and suppliers.
The first two companies ran his retail stores and production kitchens in Sydney and Melbourne and a pop-up store. The other ran a high tea cafe in Melbourne’s South Yarra.
Administrator Justin Holzman told News Corp they were still in the process of realising assets to pay some employees and unsecured creditors back, but the companies are no longer trading.
He said a majority of employees had been paid through the Australian Government’s Fair Entitlements Guarantee scheme (FEG).
The scheme offers financial assistance to cover certain unpaid employment entitlements to eligible employees who lose their job due to the liquidation or bankruptcy of their employer.
“We’re in the process of making further asset recoveries which will provide for repayment of that advance the government department has made … and any surplus funds that are recovered after payment of that amount will be paid as a dividend to unsecured creditors,” he said.
He also said a bank debt has been repaid in full.
“It’s from realisation of assets that we’ve made through liquidation and voluntary administration and Adriano has also personally contributed to paying out the bank,” he said.
“Based on future asset recoveries, if we are successful, then everyone would be paid, and that would include repayment of the government advance from FEG.”
Zumbo also credited his assistant Karen Jung for supporting him.
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“She was my assistant and made all of my ideas come to life, testing and documenting them ready for all the big days. So a lot of is going out to you for being this amazing person,” he said.
He then paid tribute to this year’s crop of amateur cooks, saying: “All the 10 talented contestants you made me toughen up everyday to put on a strong face, so that I could try and be at least half the person you looked up to me to be.”
He also thanked his co-host Rachel Khoo and Seven for their understanding and his former team.
Khoo replied to his Instagram post by saying: “Adriano, I’ve always greatly admired your creativity and work but last season you really took it to another level.
“You turned up everyday on set like a pro despite the craziness/hardships going on.
“Like you I’m a true believer (and also proof) that tenacity, hard work and authenticity gets you places.”
Zumbo declined to comment further when contacted by News Corp.