Elegant Perth restaurant Trustee has been placed into voluntary administration, with mounting debt and last-minute discussions to renegotiate terms with its banks and landlord unable to overcome the restaurants worsening financial problems.
Trustee and its stablemate, Beaufort Local in Highgate, remain open and trading as administrators Cor Cordis work through the books and consider either a trade sale or closure.
Its a testament to the reputation of Trustee that we have already had several parties reach out to us expressing an interest in a trade sale, Cor Cordis partner Jeremy Nipps said. We dont have a full picture yet, but this will emerge over the next few days.
We were very surprised when we got the call, because Trustee is an iconic…
Read the full article at: https://thewest.com.au/lifestyle/food/owner-of-the-trustee-says-the-booms-end-spelled-tough-times-for-his-cbd-eatery-ng-b88647045z