Three companies Crema Espresso in liquidation owing more than $3.5m after landlord stoush
Landlords of a high-profile coffee chain have lost a small fortune in rent, and other creditors are millions out of pocket, after three of the brand’s companies went into liquidation owing more than $3.55m.
Gold Coast
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Landlords of a high-profile coffee chain have lost hundreds of thousands of dollars in rent, and other suppliers are out of pocket by millions, after three of the brand’s companies went into liquidation owing more than $3.55m.
Crema Espresso Leasing owed $440,672 when it went into liquidation last year, with director Antony Forbutt declaring it had no assets or cash to meet its debts.
The company was last year ordered to pay more than $255,000 to landlord Romolo Bos, who is now unlikely to see a cent of it.
The company also owed $52,231 to the landlord of its Main Beach cafe – Crema’s very first location before it quickly expanded to 19 outlets across Queensland.
Many of the cafes have since closed down, with less than 10 remaining in Queensland and one in NSW.
Two other Crema Espresso companies – Crema Espresso Franchising and Crema IP – are also in liquidation, with debts for all three topping $3.55m.
Crema Espresso Franchising owed more than $1.8m, including $209,479 to the ATO, $250,000 to the Queensland government for a Covid business loan, $400,000 to investors Charles and Christine Scerri and more than $120,000 to small business lenders, according to the liquidator’s report.
The company also owed $42,915 in rent for its Grand Central store in Toowoomba, the report said.
Mr Bos was landlord of Crema’s first drive-through cafe, which opened at 88 Bundall Rd in March 2018.
The coffee outlet was ordered to pay more than $255,000 in overdue rent and interest in August 2023, after a long-running legal battle with Mr Bos’s company Grocorp Developments.
“No-one likes seeing anyone go into liquidation,” Mr Bos said.
“It’s just disappointing, because we were working with the tenant to see them succeed.
“But we’ve moved on – it’s a good asset and we’ve got a good tenant there now – the GyG is one of the most successful in the country.”
Documents lodged with ASIC reveal the Crema Espresso branding and other assets were purchased by another company, Crema Franchising, which is solely directed by Andrew Shrimpton.
Mr Shrimpton is also a director of Cafe Franchise Group which manages the national cafe chain Coffee Guru and the remaining Crema outlets.
Mr Forbutt is listed on the Cafe Franchise Group website as its franchise support officer.
The Gold Coast Bulletin has attempted to contact Mr Forbutt for comment.
The first branded Crema Espresso opened on the Gold Coast in 2006 on Tedder Ave, Main Beach.
Mr Forbutt was ordered to pay the outstanding rent after lodging a Queensland Civil and Administrative Tribunal claim in 2019, alleging a neighbouring Freedom service station that served barista-made coffee breached an ‘exclusivity’ clause in their 20-year lease agreement.
The landlord denied the allegations and reclaimed the premises in July the same year, at the time claiming he was owed $185,000 in unpaid rent.
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Originally published as Three companies Crema Espresso in liquidation owing more than $3.5m after landlord stoush
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