Some Finn Poke, Two Yolks, Daily Greens companies fail as founder Jem Jacinto faces tax troubles

Companies that launched trendy restaurants from Brisbane to Sydney have collapsed owing more than $1.26m, while their founder is battling tax and migration troubles in the Federal Court.

Companies that launched four well-known restaurants have collapsed owing more than $1.26m as their founder battles tax and migration troubles in the Federal Court.

Poke bowl eatery Finn Poke and burger shop Two Yolks were founded on the Gold Coast by New York-born Jem Jacinto.

The stores spread across the country, including to Burleigh Heads and Pacific Fair on the Gold Coast, Brisbane’s Southbank, Byron Bay, Newcastle and Sydney – but several of the companies that previously operated them have swum into financial strife.

Companies behind closed Sydney stores Finn Poke Gateway and Daily Greens Gateway, are in liquidation, owing almost $150,000 between them.

The companies that launched Finn Poke and Two Yolks stores at Burleigh are in administration, but the stores are still open for business and being operated by unrelated companies.

Meanwhile the company that launched Finn Poke Byron is “on the brink of insolvency”, according to documents lodged with ASIC, with windup action from the ATO launched this week.

That store is also still open for business after being taken over by an unrelated company.

Jem Jacinto with at Two Yolks in South Brisbane. Picture: Nigel Hallett

Mr Jacinto’s potential legal troubles do not end there – he, along with two of his Finn Poke companies and two members of his family, are also embroiled in Federal Court migration matters, sparked in 2022.

The nature of the migration matters is not publicly available.

The founder, who turned 47 on Thursday, heads up Jacinto Group, whose other interests include a Two Yolks burger shop in Brisbane; Pop’s Milk Bar on the Gold Coast; Daily Greens cafe in Sydney; The Sustainable Catering Co; delivery-only business Samurai Rice Bowls and a Finn Poke food truck.

A report from Finn Poke Burleigh administrator Daniel Frisken, also administrator for Two Yolks and liquidator of the two related companies, said Mr Jacinto was battling court action from the tax office after failing to settle Director Penalty Notices totalling more than $950,000.

Mr Jacinto declined to comment on any of the matters.

Dr Beets bowl from Finn Poke.

Two Yolks Burleigh owes up to $144,010 to employees, and $363,000 to statutory creditors, mostly the ATO.

Mr Frisken said Finn Poke Burleigh sold the Burleigh business to an unrelated company for $9150 in November 2024. The Two Yolks Burleigh business was sold for $15,350 the same day.

The administrator found Finn Poke Burleigh had run at a loss for at least three years, while Two Yolks ran at a loss every year since it opened in 2021.

Both companies were likely insolvent from at least November 2022, the reports said.

The failure of the companies has been attributed to the impact of Covid-19 and higher operating costs.

Mr Frisken, of O’Brien Palmer, recommended creditors vote in favour of tipping both companies into liquidation.

Even if creditors do not vote to liquidate the companies, it may happen anyway, with ATO windup action looming in the Federal Court.

Bowled over companies

Finn Poke Burleigh, in administration with $546,310 debts, subject to ATO windup

Finn Poke Byron, subject to ATO windup

FP Gateway, in liquidation with $90,000 debts

Two Yolks Burleigh, in administration with $570,000 debts, subject to ATO windup

Daily Greens Gateway, in liquidation with debts of $56,000

Originally published as Some Finn Poke, Two Yolks, Daily Greens companies fail as founder Jem Jacinto faces tax troubles