Popular Italian restaurant chain Criniti & # 39; s goes into administration

Is this the end of Criniti & # 39; s? Popular Italian restaurant chain goes into administration and staff lags behind in the dark when stores are closed at night

  • Italian restaurant chain Criniti & # 39; s went into administration as an economy struggles
  • Some of the 13 restaurants in the chain across the country will be closed forever
  • Administrators expect that & # 39; multiple & # 39; stores are closed, but still have to decide which
Advertisements

Italian restaurant chain Criniti & # 39; s went into administration under tough economic conditions.

Some of the 13 restaurants in the chain in Sydney, Melbourne, Perth and Brisbane are closed forever.

Administrators say they expect & # 39; multiple & # 39; are closed, but still have to decide which or how much.

Italian restaurant chain Criniti & # 39; s went into administration. Pictured: single Noni Janur in the restaurant

Advertisements

Italian restaurant chain Criniti & # 39; s went into administration. Pictured: single Noni Janur in the restaurant

The nine restaurants in the New South Wales chain are managed by Frank Criniti and his wife Rima.

On Tuesday evening, some were temporarily closed before the staff got the bad news. Most of them were expected to reopen on Wednesday for lunch.

The directors of Criniti Restaurant Group, consisting of 40 companies involved in the operation of the restaurants, have appointed Worrells Solvency and Forensic Accountants.

Administrator Graeme Beattie said the slow economy and low consumer spending have paralyzed the chain.

& # 39; Criniti & # 39; s is a well-known, beloved chain, but, like all hospitality businesses, has high overhead costs and is susceptible to weakening retail spending, & # 39; he said.

& # 39; With some locations in the group doing better than others, our first priority will be the preservation of value by identifying and closing the poorer artists, which we expect to have several.

Some of the 13 restaurants in the chain in Sydney, Melbourne, Perth and Brisbane are closed forever. Pictured: the male restaurant
Advertisements

Some of the 13 restaurants in the chain in Sydney, Melbourne, Perth and Brisbane are closed forever. Pictured: the male restaurant

Some of the 13 restaurants in the chain in Sydney, Melbourne, Perth and Brisbane are closed forever. Pictured: the male restaurant

& # 39; These will be difficult, regrettable but necessary decisions just because we do not believe that the group as a whole can act indefinitely while a buyer is found or some other solution is reached, perhaps through a business arrangement deed & # 39; .

Referring to the staff who will lose their jobs, he said: "There is never a good way to bring this kind of news and we understand the shock, disappointment and fear of the loyal Criniti employees."

& # 39; Although we have little comfort for the affected employees, by acting quickly to reduce losses, we give remaining employees a better prospect of ongoing work and all creditors have a greater chance of payment & # 39 ;.

Advertisements

He said that customers with gift vouchers will be contacted soon.

Administrators say they expect & # 39; multiple & # 39; are closed, but still have to decide which or how much. Shown: a Critini & # 39; s pizza

Administrators say they expect & # 39; multiple & # 39; are closed, but still have to decide which or how much. Shown: a Critini & # 39; s pizza

Administrators say they expect & # 39; multiple & # 39; are closed, but still have to decide which or how much. Shown: a Critini & # 39; s pizza

. [TagsToTranslate] Dailymail

Advertisements

- Advertisement -