The restaurant empire of celebrity chef George Colambaris has been placed into voluntary administration, putting hundreds of jobs at risk.
The former Masterchef judge took to Instagram overnight to announce the shock news, which comes just months after the business was hit by a staff underpayment scandal.
The 41-year-old said he was gutted and filled with “deep sadness and regret” over the decision.
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“It is with deep sadness and regret that MADE Establishment has been placed into Voluntary Administration,” Colambaris wrote.
“On a personal note, the last few months have been the most challenging I have ever faced. I am gutted that it’s come to this.”
Mr Colambaris also thanked his family, friends and team for their support over the last few months.
“I truly regret it has come to this. I thank you from the bottom of my heart for your loyalty and friendship,” he wrote.
“I am so sorry all our collective efforts have not proved to be enough.”
KordaMentha said in a statement that the company’s Craig Shepard and Leanne Chesser had been appointed voluntary administrators of 22 companies in the MAdE Establishment Group.
The Group, founded by celebrity chef George Calombaris, operates 12 restaurants and food venues in Melbourne.
“The appointment excludes the Yo-Chi operations which will continue to trade as usual,” the statement said.
“All other venues have stopped trading immediately. Employees have been paid all outstanding wages and superannuation up to the date of the appointment.”
Mr Shepard said the Administrators would seek alternative operators for the venues and engage with other stakeholders in order to realise the Group’s assets.
A first meeting of creditors will be next Thursday 20 February.