JFX Japanese closes Southport store amid company collapse

Two popular southeast Queensland Japanese restaurants – one in Brisbane and one on the Gold Coast – have collapsed, owing more than half a million dollars to creditors and staff.

Two popular Japanese restaurants have closed owing half-a-million dollars to creditors amid crippling economic conditions during the COIVD-19 pandemic.

Brisbane Yakiniku Pty Ltd, formerly trading Southport’s JFX Japanese Food Express and Koh-Ya Brisbane restaurant in Fortitude Valley, collapsed into liquidation on Monday.

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A report on the company’s financial state reveals it owes creditors $531,979, including one worker owed $78,405.

The Australian Taxation Office is the largest unrelated creditor, owed $132,179.

Cosmos Australia ($39,703), Eat Japan ($33,394) and Gold Cosmetics ($31,960) are three of the larger creditors.

Southport’s JFX Japanese Food Express, which opened in 2013 as a buffet offering, attracted dozens of positive reviews and was rated 4.7 out of 5 stars on TripAdvisor.

The company’s second restaurant, Koh-Ya Brisbane, is also listed as permanently closed.

It operated on Ann St in Fortitude Valley.

Brisbane Yakiniku director Ryoji Tanaka has been contacted for comment.

Calls to the JFX Japanese food restaurant went unanswered on Tuesday morning.

Mr Tanaka is listed as the largest creditor of the company – owed $150,000.

It is understood a downturn in trade at the restaurant led to the subsequent liquidation.

McLeod & Partners liquidators Jonathan McLeod and Bill Karageozis have been appointed to wind-up the company’s affairs.

Originally published as JFX Japanese closes Southport store amid company collapse