Laurent Bakery to close five stores as Melbourne boss cites crime, rents and tax burden
Laurent Bakery, the premium bakery group valued at $800 million, will shut five of its 17 Melbourne outlets, as founder Laurent Boillon points to rising crime, steep rents and an unfavourable tax environment as key drivers behind the pullback.
The chain has built its reputation in well-heeled pockets of the city including Camberwell, Brighton, Balwyn, Albert Park and Kew. However, there will now be no CBD outlets.
Boillon, 62, told News Corp papers he had lost patience with operating in the inner city, saying "I can't be bothered, it's too hard" and describing the area as “dead”.
The French-born operator arrived in Australia with $400 in his pocket before launching his first bakery in South Yarra in 1993, building the business into its current scale. He has now flagged that his youngest son is pursuing opportunities in the United States instead, and has criticised the local tax system as a barrier to entrepreneurship, per news.com.au.
Boillon's comments echo concerns raised by other Victorian operators. News.com.au reported in December that business owners and property developers were abandoning long-term projects in the state over tax settings and crime.
Business Council of Australia chief executive Bran Black said Victoria was signalling “Wrong way – Go back” to investors and operators nationally. He said addressing “uncompetitive business taxes and onerous licensing and regulatory requirements” was essential if the state wanted to reverse the trend, and described Victoria as "officially the most punitive state in Australia" on tax settings, adding that members regularly tell him the state “has become an increasingly harder place to do business and invest.” Black also stressed the broader stakes for the national economy, noting “we need Victoria to be a success”.
A Dandenong factory owner put it more bluntly, telling news.com.au that operating in the state was “a comedy” but “the joke is killing us”.
Angie Romas, whose company has worked on major builds including Docklands Stadium and Southern Cross Station, said his land tax bill on a 17-hectare site had surged from $8703 in 2015 to $203,600 in 2025 under successive state Labor governments. He was scathing of the government's approach, saying “This is not a government. This is a rabble taking our money.” Romas indicated he would exit the state within the next 12 to 18 months rather than continue absorbing the cost.
Smaller hospitality operators are facing a different but related threat. Moustafa Saoud, owner of Eleven:11 cafe in Footscray's Buckley Street, told news.com.au he was walking away from the business after CCTV captured an unprovoked assault, in which a hooded man entered the cafe, punched him and left calmly.
Despite the anecdotal pressure, news.com.au noted that overall Victorian crime rates eased in the most recent official figures after hitting record highs in prior years, with youth crime down two per cent. Adult crime, however, rose by more than 10 per cent, driven largely by an increase in retail theft.
Jonathan Jackson, 1st July 2026
