Chapel Street icon Abacus Bar & Kitchen collapses into liquidation
One of South Yarra's most recognisable dining destinations has closed its doors for good, with Abacus Bar & Kitchen entering voluntary liquidation and leaving an estimated $2 million trail of debt across nearly 30 staff and a long list of creditors.
The Chapel Street stalwart built a loyal following over the years through its sustainability-led ethos, farm-to-table menus of modern Australian cuisine and an in-house baking and milling program sourcing predominantly from the neighbouring Prahran Market. The business ran the full dining arc from brunch through to dinner, earning a reputation as one of the strip's more considered operators.
A notice lodged with the corporate regulator confirmed the liquidation, with Claudio Trimboli of Charles & Co appointed to oversee the wind-down. Total liabilities and assets are yet to be finalised.
Close to 30 employees are listed as creditors, collectively owed more than $70,000 — with some individuals claiming entitlements of up to $15,000.
The unsecured creditor list makes for sobering reading. The Australian Taxation Office is owed $909,000, with the State Revenue Office claiming a further $74,831. Energy provider Origin Energy is listed for $129,956, while Pegasus Golden Wings Investments is owed $162,018. Specialty coffee supplier Zest Specialty Coffee Roasters is out $77,546, and point-of-sale provider Lightspeed Australia is owed $84,526. Seafood supplier Claringbolds Seafoods (Vic) and grocery distributor Biviano Direct are also listed among those facing losses.
On the secured side, NAB and ANZ hold claims of $464,806 and $47,522 respectively, alongside finance providers Angle Finance, Bizcap, GC Leasing Melbourne and Imscan Technologies.
Current director Shanshan Pang is listed with ASIC, with former director Dylan Whitmore also named in company records. Abacus has been contacted for comment.
The closure also draws a line under Abacus' CBD expansion. A William Street coffee outpost opened in May 2022, targeting the weekday office trade, is also listed as permanently closed.
The Abacus collapse arrives in the wake of wider distress along the Chapel Street precinct. Earlier this year, the directors of several nearby venues — including nightclub Electric Bar, and cocktail bars La La Land Windsor and Somewhere Bar — entered administration owing unsecured creditors around $3.5 million.
Those operators attributed their financial difficulties in part to rising crime and anti-social behaviour in the area, which they said forced costly security upgrades at the same time award wages climbed, "severely eroding" margins and driving patrons away. Those venues subsequently struck a deal with creditors and continue to trade.
Abacus will not be so fortunate.
Jonathan Jackson, 12th May 2026
