A number of Pinot & Picasso studios face an uncertain future after their parent companies entered voluntary administration.
There are currently more than 40 Pinot & Picasso studios around Australia, allowing people to book a group painting session where they’re guided on how to recreate a piece of art while enjoying a few drinks.
Salea Advisory was appointed administrator of Veuve Ventures Pty Ltd and its subsidiary companies, which runs seven Pinot & Picasso studios in various Australian states, on September 12.
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All other studios are independently owned and are not under administration.
The directors of the affected companies said the reason for the appointment was, “largely attributable to a reduction in discretionary consumer spending, as Australians and other customers look to tighten entertainment budgets,” a letter from Salea Advisory said.
Pinot & Picasso venues are located in Victoria, Western Australia, South Australia, New South Wales and Queensland.
Administrator Sule Arnautovic said there were 16 full-time staff and 41 casual staff employed across the seven company-owned studios under administration.
About seven redundancies were made as a result of the administration…
