Pip and Andrew Goldsmith sell The Boathouse eateries as financial pressure takes its toll

The massive tax debt owed by a glamorous northern beaches couple who have been forced to give up their swanky multimillion-dollar dining empire has been revealed in court papers today.

The outdoor dining area at the Patonga Boathouse Hotel.

• Company that owned Boathouse venues chased by ATO

The glamorous couple behind the sudden sale of the “Boathouse Group” dining empire owe the taxman $868,324, court papers revealed today show.

The prominent chain of eight restaurants, cafes and pubs in ritzy beachside suburbs faces insolvency because of the unpaid debts.

According to the Australian Taxation Office, the $868,324 owed by Andrew and Pip Goldsmith’s company, Spring Sands Pty Ltd, accrued from unpaid BAS, or business activity statements which would normally include GST and PAYG taxes owed to the government.

The ATO has asked the Federal Court to wind up their company “on grounds of insolvency”, the court documents filed on 9 July show.

Andrew and Pip Goldsmith own popular eateries that stretch from Mosman to the Central Coast.

“The defendant failed to pay the amount of the debt demanded or to secure or compound for that amount to the plaintiff’s reasonable satisfaction within 21 days after the demand was served on the defendant,” the ATO deputy commissioner Robert Raveanello states.

The documents also reveal there to be “no genuine dispute about the existence or amount of the debt”.

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The case is due for a hearing on August 14.

In a statement, the couple revealed the The Boathouse Group has been acquired by “two family investment offices from within New South Wales”.

“The Group’s rapid expansion in the previous year, particularly the opening of The Boathouse Hotel

Patonga and Barrenjoey House, resulted in the need to rectify financial pressures and recapitalise. “This purchase by new equity partners provides the investment The Group requires to continue delivering the experience our guests know and love.”

The northern beaches couple gave up their swanky multimillion-dollar dining empire amid a sea of debt and a run-in with the taxman­.

Secret buyers have bought their chain which includes The Boathouse at Balmoral.

The Goldsmith, the duo behind a string of prominent eateries which stretches from Mosman to the Central Coast, revealed they have sold to a mystery buyer.

And it has now been ­revealed the Goldsmith’s company, Spring Sands Pty Ltd, which owns the business name “The Boathouse Group”, is the subject of winding up proceedings by the Australian Taxation Office in the Federal Court.

Spring Sands is also part-owned by a company owned by Pip Goldsmith’s parents — former trade minister Andrew Robb, who served under John Howard, Tony Abbott and Malcolm Turnbull, and his wife Maureen. Under the Corporations Act, a creditor of a company can make an application to the court for orders winding up the company in ­insolvency.

A court hearing is listed for August 14, but in a surprise move that has rocked the hospitality industry, the Goldsmiths announced secret buyers have bought their chain, which includes cafes in elite locations such as Bal­moral beach.

The business, which employs 500 people, has been sold to two “local family consortiums” that the couple described in a statement as the “new ­majority owners”.

There had been rumours circulating in recent months that the business was struggling.

The Daily Telegraph has been contacted by a former employee of the Boathouse group who said they had not been paid the correct amount of superannuation by the company over the past year.

On Wednesday night the Goldsmiths said they would continue to manage the group and it would be “business as usual” in all Boathouse venues, which includes ­up-market eateries at Manly, Whale Beach, Palm Beach and Balmoral, and a hotel at ­Patonga.

The Boathouse at Palm Beach.

Whale Beach Deli is also owned by The Boathouse Group.

“The group’s rapid expansion in the previous year, particularly the opening of The Boathouse Hotel Patonga and Barrenjoey House, resulted in the need to rectify financial pressures and recapitalise,” their statement said.

“This purchase by new ­equity partners provides the investment the group requires to continue delivering the experience our guests know and love.

“Founders of the group, Pip and Andrew Goldsmith, will continue to manage the day-to-day operation of the ­businesses and look forward to working with new majority owners.”

The most common basis for a winding up application comes after a company fails to comply with a statutory ­demand to pay a debt within 21 days of service.

If a company fails to comply with this within the time provided, the company is presumed insolvent under the Corporations Act.

The opening of The Boathouse Hotel Patonga has resulted in the need to release financial pressures.

The Goldsmiths did not reply to requests to comment on the tax office’s federal court hearing.

Earlier this year, it was ­reported Andrew and Pip Goldsmith were facing court proceedings from the tax office, which had requested payment of a tax bill of just under $485,000.

But, at the time, a spokeswoman for the couple said the case was the result of an admin error over a mailing address, and the debt was paid.

Last year the Boathouse’s owners celebrated the opening of their newly renovated $5 million Central Coast venue, at Patonga, with a lavish lunchtime soiree.

Dozens of friends, family and staff from the group’s other venues were invited to the event where they were invited to order several meals from the menu and ­offered drinks and expensive cocktails at no cost.

Insiders have told the Telegraph the new owners spared no expense on adorning the venue with fresh flowers and bringing up a lot of their produce from Sydney, rather than sourcing locally.