Restaurateurs feel the pinch

first_img Facebook Twitter: @NeosKosmos Instagram It would seem chef George Calombaris has a lot to answer for with the success of reality cooking show Masterchef, inspiring home cooks and forcing Greek Australian restaurant owners to shut their doors. One of Melbourne’s most prominent hospitality entrepreneurs, Nick Zampelis, along with a number of other Greek Australians in the industry, have had to rethink their position, with close to 1500 restaurants closing down in the last year. In the past six months Mr Zampelis has had to sell or close six restaurants, including talks of selling the popular Melbourne nightclub Silk Road. This will come at a financial loss, the current offer on the table standing at $3.5 million – an insufficient sum of money compared to the reported $10 million spent on renovations. The entrepreneur does not put this move down to financial pressures however, claiming that he is looking to remove himself from nightclubs as he is “sick of the industry”. “Times are obviously tough, but I’m doing fine. In fact I have plans to open three new restaurants,” Mr Zampelis told The Age. Heavily involved in the industry since the 1980s, Mr Zampelis has been associated with more than 70 bars, restaurants and nightclubs across Victoria, including Café Greco, Silk Road, Lotus and Crown’s Waterfront. Ex-owner of Transport Bar and Taxi Dining Room, Paul Mathis is also feeling the effect, facing liquidation action in the Victorian Supreme Court. His restaurant Soulmama was found to be trading while allegedly insolvent, owing millions of dollars to the Australian tax office, landlord and suppliers. Source: The Agelast_img read more