Popular sushi chain with restaurants in three states suddenly collapses after paying millions
- BREAKING NEWS: Popular sushi restaurant chain collapses
A popular sushi chain with outlets in NSW, the ACT and the NT has suddenly collapsed causing millions of dollars.
Sushi Bay was also under investigation for alleged violations of the Fair Work Act and the Deputy Commissioner of Taxation had begun to close the proceedings.
All restaurants in NSW and the ACT are in liquidation or forced to close, but the Darwin store remains open.
The chain’s Miranda store in southern Sydney, which was registered as Auskobay Pty Ltd, went bankrupt in February.
Then a month ago an operation registered as Sushi Bay Pty Ltd in Campbelltown, a south west Sydney suburb, went under.
Sushi Bay (restaurant pictured) was under investigation for alleged violations of the Fair Work Act and the Deputy Tax Commissioner had begun the resolution process
The Sushi Bay outlet in Canberra went bankrupt at the end of March.
While the Darwin restaurant is still open, it may not be long now.
Sushi Bay Darwin had a court hearing on Wednesday, with the Australian Taxation Office (ATO) calling for liquidation over unpaid debts.
Sushi Bay headquarters reportedly owes about $1.5 million to the ATO and $155,000 to trade payables.
It would also owe about $250,000 in other debts.
More to come.
