W’Gusto Supermarkets Pty Ltd reveals seven-figure debt

Liquidators investigating the closure of a waterfront IGA months after opening have uncovered millions in debt.

Aerial view of the new Dockside Village at Pelican Waters. Photo: Flux Property.

Millions of dollars of debts have been revealed following the collapse of a waterfront grocery store, along with a lengthy list of creditors.

W’Gusto Supermarkets Pty Ltd, which traded as Local Gourmet Supermarkets, was placed into voluntary liquidation on Wednesday, March 12, according to the Australian Securities and Investments Commission notice.

Liquidator Jason Bettles was appointed to complete the company’s winding up.

Mr Bettles confirmed the W’Gusto Supermarket company operated the business, IGA Pelican Waters, which abruptly closed earlier this year less than 12 months after opening.

The store, known as W’Gusto IGA, first opened in the new Dockside Village at The Basin in Pelican Waters in July 2024.

According to the supermarket’s website the store included an onsite cafe, self-serve salad bar and an on-tap olive oil service.

The latest ASIC documents published last week show the company accumulated about $778,347 in debt owed to unsecured creditors and $22,180 owed to secured creditors.

A total of $3.5m is owed to Australian and New Zealand Banking Group Limited, which is “secured by debenture of circulating security interests over assets”, according to the report.

According to the ASIC documents the company has an estimated realisable value of about $2.98m.

The company’s director Charles Gregory Weiss, is also the director of a separate company, W’Gusto Supermarkets 2 Pty Ltd, which operates on the Sunshine Coast according to the ASIC documents.

The company W’Gusto Supermarkets 2 Pty Ltd was first established in May last year, according to ASIC documents, and is not involved in the liquidation.

Mr Weiss has been contacted for comment by this publication on multiple occasions.

Originally published as W’Gusto Supermarkets Pty Ltd reveals seven-figure debt