Bitter end for George Calombaris’ last remaining venture of now defunct empire
The sons of Boost Juice founder Janine Allis have snapped up frozen yoghurt chain, Yo-Chi, the remaining venture of George Calombaris’ failed food empire.
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Celebrity chef George Calombaris has sold off the last remaining venture in his now defunct Made Establishment restaurant empire.
Mr Calombaris and his one-time wealthy restaurant backer, former Swisse vitamins boss Radek Sali, have sold the up-market Yo-Chi frozen yoghurt chain.
The business, the only eatery within the Made group not to be placed into administration, has been bought by the two youngest sons of Boost Juice founder Janine Allis.
Yo-Chi operates outlets in Hawthorn, Malvern, Carlton and Balaclava.
Corporate records show a company called Embrace the Chi took over Yo Chi’s various trademarks and website domain registration in late May.
Embrace the Chi is jointly owned by Oliver Allis, 23 and his younger brother Riley, 20.
The pair are the sons of Ms Allis who is one of the nation’s most successful food entrepreneurs.
Separate company records show Made by Yo-Chi, a company owned by Mr Calombaris and Mr Sali, was placed into voluntary administration late last week.
Made, which employed 364 staff across a restaurant stable including The Press Club, Hellenic Republic and Jimmy Grants, collapsed in February.
Its downfall followed a public backlash to a $7.8 million wages underpayment scandal.
While the Yo-Chi chain was not placed into administration, the Herald Sun understands the proceeds of the sale will be pocketed by Commonwealth Bank.
It was the major Made creditor having lent the group $8.5 million.
The sale of Yo-Chi marks the formal end of the Made restaurant empire which Mr Calombaris built up over 13 years starting when he opened the famed Press Club in Melbourne.
The popular Yo-Chi chain also appears to be the first business venture by Oliver and Riley Allis – one which keeps the duo close to their family roots.
Ms Allis, who is a business expert on Shark Tank and has competed in Survivor, founded Boost Juice in 2000.
It now operates 550 stores across 14 nations.
It is also part of the larger Retail Zoo group which operates food outlets Salsas, Betty’s Burgers and Cibo Express.
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