Owner of failed Hope Island restaurants New York New York, Manhattan on Hope and Tiffany’s Cafe and Cocktails owes ATO $574k

THERE’S been new twists in the shock closure of three Hope Island restaurants — New York New York, Manhattan on Hope and Tiffany’s Café and Cocktails — with stunning revelations about the state of the owner’s financials emerging.

The New York New York restaurant at the Hope Island Shopping centre. Picture: Mike Batterham

THE owner of well-known Gold Coast restaurants owed staff thousands of dollars in superannuation last year when it decided to open another swish eatery.

Federal Court documents show Pacific Holdings Vanuatu Pty Ltd, the owner of New York New York, Manhattan on Hope and Tiffany’s Café and Cocktails, owes the Australian Taxation Office $574,000.

Of that, about $85,000 relates to a superannuation guarantee charge, which is applied when an employer does not pay staff the minimum superannuation.

The ATO figures show minimum superannuation contributions had not been paid to employees since April 2016.

Randall McFie. Picture: Richard Gosling

The three Hope Island eateries closed suddenly last week, putting up to 40 staff out of job.

Pacific Holdings Vanuatu is owned by Jo-Anne Crestani. The company’s registered address was a property at Knightsbridge Parade, Sovereign Islands, owned by Ms Crestani’s partner, Randall McFie.

STAFF BLINDSIDED AS HOPE ISLAND RESTAURANTS COLLAPSE

He sold the mansion for $3.3 million in January.

On Friday, the Federal Court ordered Pacific Holdings Vanuatu be put into liquidation.

The move forced the administrators appointed by Ms Crestani last Monday to hand over winding-up of the company to liquidators McGrath Nicol.

Manhattan on Hope restaurant, which opened at Hope Island last August.

Pacific Holdings Vanuatu did not respond to requests from the ATO to pay the more than $574,000 tax bill in January.

In an email filed in the Federal Court, administrator Roland Robson said there was no possibility of the restaurants reopening.

The email also details how stock had been returned to suppliers or donated to charity.

EMPLOYEES YET TO BE NOTIFIED AS HOPE ISLAND RESTAURANTS GUTTED

The equipment at Manhattan on Hope, which opened last August, was surrendered due to an outstanding debt.

The email also reveals negotiations to sell New York New York and Tiffany’s.

“The contract is expected to be provided in regards to the sale of these two businesses/restaurants,” it said.

Tiffanys Cafe and Cocktails at the Hope Island Shopping centre. Picture: Mike Batterham

Mr Robson also talks about the failed sale of Manhattan on Hope — for a much lower price than the more than $1 million that had been asked.

“A contract was on foot for $350,000 which would have gone to the secured creditor on the settlement,” Mr Robson wrote.

RESTAURANT CLOSURES TAKE RESIDENTS, TRADERS BY SURPRISE

“I have been informed the purchaser pulled out on due diligence wherein the secured creditor moved to then recover their assets.”

McGrath Nicol partner Anthony Connelly declined to comment as he is still gathering information on the company.