Adriano Zumbo’s dessert empire may have been trading insolvent since at least mid 2017, raising questions about the dessert king’s breach of obligations as a company director.
In July, three of Mr Zumbo’s companies 611 Pty Ltd, Mel 611 Pty Ltd and I’m So Fancy Pty Ltd went into voluntary administration.
According to the administrators’ report, sent to creditors last week, the Melbourne upmarket retailer I’m So Fancy Pty Ltd “may have been insolvent from at least early to mid 2017”. This is based on the administrators’ investigation so far and subject to further investigation.
I’m So Fancy Pty Ltd operated a high-tea cafe in Melbourne’s South Yarra, under the names Little Frankies, Zumbo Cafe and Fancy Nance.