Liquidators hope an investor will purchase Providoor IP, its branding and customer database

Customers of the fine-dining restaurant meal delivery service will be left with $4.4m in worthless vouchers even if liquidators manage to find a new owner.

Customers of failed fine-dining restaurant meal delivery platform Providoor will most likely be left with $4.4m in worthless gift vouchers even if a new owner is found for the popular brand.

Liquidators are holding out hope that an investor will purchase the intellectual property, branding and customer database of the company that was forced to close its doors last month.

But even if a white knight appeared to rescue the business idea it is highly likely that thousands of people holding more than $4.4m in Providoor vouchers will lose out with their vouchers not being honoured by any new owner and now essentially worthless.

Providoor was the brainchild of well-known chef Shane Delia who on Tuesday told Melbourne radio station 3AW he was sorry for the collapse of the company and the impact on staff and customers – especially those holding the worthless gift vouchers.

“Its huge number and lot of people are affected, I’d say sorry on behalf of how I played in the whole matter,” he said.

An information memorandum is being circulated in the investment community and liquidators are hopeful Providoor could be resurrected under new owners who could use the customer base and IP to restart the meal delivery service.

Shane Delia was especially scathing on Tuesday about one of Providoor’s backers. Picture: Jay Town

It is not unusual for a business brand or concept to be raised from the dead after a collapse. In 2016 in the wake of the collapse of iconic consumer electronics retailer Dick Smith its online business and branding was bought by online marketplace Kogan.com.

The closure of Providoor was a shock to many given it was trading strongly before its collapse, was cashflow positive and eyeing an international expansion.

Mr Delia was especially scathing on Tuesday about one of Providoor’s backers, Collins St Asset Management, for pulling its money and triggering the collapse.

“Providoor was a healthy business, and is a healthy business, but when you have the rug pulled out from under you and an investor pulls out money and says I don’t really care what happens to anyone else, I just want to get my money out, what choice are we left with?

“There was enough money in that bank to trade through any issues and more than enough money to redeem gift cards.”

A spokesman for Collins St Asset Management declined to comment when contacted by The Australian. The investor’s stake in Providoor was held in its Collins St Convertible Note Fund.

Top restaurants that used Providoor as their meal delivery service included Mr Delia’s Melbourne eatery Maha where the idea began and other restaurants backed by celebrity chefs including Supernormal, Rockpool, Gwen, Spice Temple, Grossi, Three Blue Ducks, Chiswick, Xopp, The Fold and dozens of other popular establishments.

Mr Delia kick started the meal delivery business in late-April 2020 in Melbourne as a response to the sudden Covid-19 pandemic restrictions and lockdowns which saw in-house dining banned in restaurants for an extended period.