Top Melbourne restaurants Klae and Kekou collapse with $50k in unclaimed gift vouchers
Two esteemed Richmond restaurants, run by a wannabe hospitality king now under investigation by the corporate watchdog, have collapsed owing $1.3m including more than $50,000 in unclaimed gift vouchers.
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Two esteemed Melbourne restaurants run by a wannabe hospitality king now under investigation by the corporate watchdog have plunged into liquidation with over $1.3m in debts, including more than $50,000 in unclaimed gift vouchers.
Asian fusion restaurants in Richmond Kekou and Klae, which were both awarded a Chef’s Hat in the Australian Good Food Guide awards in recent years, were appointed liquidators on Thursday.
The venues were operated by David Anderson, who is now under investigation by the Australian Securities and Investments Commission alongside his recently-collapsed business Falcon Capital.
Up until last month, Falcon Capital oversaw a group of investment funds that held the superannuation savings of more than 6000 Australians.
Mr Anderson allegedly improperly funnelled money from the fund into his own personal ventures, ASIC claims, including his vision to run a hospitality empire across the country and other property developments.
The two companies behind the restaurants, spearheaded by esteemed chef Oak Kunnalok, entered liquidation owing over $1.3m to 82 creditors, including the Australian Tax Office owed nearly $400,000.
More than $220,000 is owed to 12 employees, including $33,885 in superannuation, $49,125 in holiday pay and $98,157 in retrenchment, the new reports submitted by director Mr Anderson reveal.
A staggering $43,956 worth of unused gift vouchers was listed for Kekou and $7732 for Klae.
The restaurants owe retail banking giant Tyro $335,433, spirits wholesaler Paramount Liquor $8784, fruit and vegetable wholesaler Fresh Produce Purveyor $24,207, wine wholesaler Nelson Wine Co. $6777 and food distributor Campania Olive Oil Co. $11,321.
Other creditors of Klae and Kekou, located on Swan St and Bridge Rd respectively, include real estate agency CVA Property Consultants ($37,339), energy broker Termina ($15,183), food supplier Tangola ($4569) and company Nolax ($143,992).
The directors’ reports provided to liquidator Adrian Warry of Dye & Co. also reveal a complex web of loans to related parties, with Kekou owed more than $65,000 from Klae.
Brewer Fox Friday, which was reportedly among several businesses Falcon Capital supported with substantial funding, was listed as being owed more than $25,000.
The brewing company, which has taprooms in Richmond, Hobart and Perth, collapsed into administration last month, alongside its subsidiary Thornbury bar and bottle shop Carwyn Cellars in Melbourne’s north.
The only assets listed by Mr Anderson for both venues were the restaurants’ fit out and office equipment, totalling just $26,100.
It comes after the Herald Sun revealed earlier this month that Kekou’s landlord Sara Management Services had taken possession of the venue for alleged “non-payment of rent”, leaving some deposit-paying customers thousands of dollars out of pocket.
Originally published as Top Melbourne restaurants Klae and Kekou collapse with $50k in unclaimed gift vouchers
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