Tedder Ave cafe business Local & Co launched by Sam Mustafa and Marco De Vincentiis placed into voluntary liquidation

A Gold Coast business behind a cafe that launched the smashed avocado croissant has been placed into voluntary liquidation.

Local & Co launched in 2016 with its ‘hero’ product the crushed avo croissant. Pictured is staff member Emma Stewart with the croissant. Picture Glenn Hampson

A GOLD Coast business behind a Tedder Ave cafe that launched the smashed avocado croissant on the Main Beach market has been placed into voluntary liquidation.

Cor Cordis’ Andre Lakomy was appointed liquidator to Local & Co Espresso Bar Pty Ltd on Thursday following decision by the owners to place the company in liquidation.

The business operated the Local & Co Espresso Bar on Tedder Ave from August, 2016.

Its ‘hero’ product was the smashed avocado croissant, which co-owner and director Sam Mustafa previously said was part of his mission to create dishes unlike anything Tedder Ave saw before.

The Bulletin visited the premises this morning to find it empty and closed.

Local & Co Espresso Bar on Tedder Ave, Main Beach, has closed down.

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Company records show Mr Mustafa’s co-director is Ivana Badalotti. Mr Mustafa owns a 49 per cent share in the company with the rest held by De Vincentiis Investments Pty Ltd.

The latter entity counts former Cicchetti co-owner Marco De Vincentiis as a director and sole shareholder. Mr De Vincentiis did not return calls this morning from the Bulletin.

Mr Lakomy is also the liquidator for Square & Co, the company behind swanky Cicchetti at Capri on Via Roma.

He was appointed in May after the business went into administration.

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Local & Co Espresso Bar owners Samir Mustafa and Marco De Vincentiis. Picture: Richard Gosling

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Mr De Vincentiis along with Luca Giacomin and Enrico Semenzato launched Cicchetti Gold Coast after enjoying success with Cicchetti Byron Bay, and the Isle of Capri venue ­became a popular haunt in the waterfront village.

The 130-seat restaurant, which featured a dazzling custom-made chandelier, was a favourite of Mayor Tom Tate, who held a surprise party there for his wife Ruth in 2017.