Club Rose Bay closes after grand opening
A day after the grand opening of Club Rose Bay’s Italian Bistro Villaggio, it had closed its doors for good.
Club Rose Bay had launched the venue with free pizza and pasta on August 29. However, the following morning, the doors were locked and the staff was terminated.
According to Australian Securities and Investments Commission documents Club Rose Bay, a long-standing RSL club, had gone into receivership.
Administrators Hugh Armenis and Jason Lloyd Porter of SV Porters were appointed and the first meeting of creditors was held on Tuesday August 27.
Administrators were “continuing to trade the club in an attempt to explore possible scenarios for its future.”
It meant the club went ahead with the grand opening, despite an uncertain future. Conditions had changed by Friday.
“On Friday a major change occurred when Simon Cathro and Andrew Blundell of Cathro & Partners were appointed Receivers by a secured creditor. As a consequence, they took control of the assets of the Club. The Receivers closed the club and terminated all staff (approximately 20 which were employed on a casual basis),” administrators said.
The club’s annual reports show that in 2022 it was trading at a loss of over $350 000. In 2023 it was trading at a loss of just over $40,000.
Villaggio, which has locations across Sydney, was brought in by Club Rose Bay to relaunch its food offering.
Villaggio has disassociated itself with Club Rose Bay and there is no suggestion it is facing financial difficulties.
Jonathan Jackson, 4th September 2024
