Revealed: Coal Loader Waverton cafe falls into liquidation, owing creditors $81,000
Visitors to a popular Sydney tourist drawcard may have to bring a packed lunch with them after the long-running cafe at the site fell into liquidation. See why it closed.
North Shore
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The triple whammy of Covid, rain and rising staff costs has taken a final toll on one of northern Sydney’s most popular cafes.
The Coal Loader Cafe has fallen into liquidation after nine years operating alongside the historic Coal Loader wharf precinct at Waverton.
The cafe had provided a popular pit-stop for locals and visitors to the waterfront precinct which includes the century-old coal loader platform, artisan markets and the Coal Loader Centre for Sustainability.
The cafe was operated by Business Directions & Solutions Pty Ltd, which leased the site from North Sydney Council.
Upon closing, the cafe set up a blackboard message thanking customers for their support, and sharing with them that “Covid, rain and the increased costs and staffing” was “too much for us in 2023”.
Liquidator Doug Ljubic of insolvency firm Tribeca Advisory will oversee the winding up of Business Directions & Solutions Pty Ltd.
Mr Ljubic told the North Shore Times the company has eight unsecured creditors and owes the creditors about $81,000 There are no outstanding entitlements owing to cafe employees.
Mr Ljubic, in a statement, said his “investigations were ongoing as to why the company has gone into liquidation”.
Records show Business Directions & Solutions was founded in 2014.
The cafe sits on crown land and falls under the care and control of North Sydney Council.
A council spokeswoman confirmed staff were now trying to find a new operator to take over the tenancy.
“We know that many locals are sad about the cafe’s closure, and we are hoping to fill the space quickly,” she said in a statement.
“Council is working with a leasing agent to find a new operator for a five-year lease.”
The cafe was placed into liquidation on January 10.
ASIC records show Movses Zilifian is listed as the sole director of Business Directions & Solutions which is based in Lindfield.
The North Shore Times attempted to contact Business Directions & Solutions for further comment but did not receive a response.
The Coal Loader was transformed into a tourist precinct back in 2011 and attracted about 150,000 people to the site in 2019 according to figures published by the council.
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