Liquidators have been appointed to the iconic Bavarian Haus in Surfers Paradise amid increasingly tough conditions in the restaurant trade across the country.
Krapfen (Jam Donut Eating), round two of the Bavarian Strongman competition.
The German-themed restaurant opened in Cavill Ave in 1975 and became a Gold Coast institution, luring locals and tourists with fare including bratwurst, pork knuckles and wiener schnitzel – washed down with plenty of steins of Bavarian beer.
A report lodged with ASIC by liquidator Travis Pullen, of B&T Advisory, says TLC Hospitality, which operated the restaurant and an adjacent coffee shop, owes unsecured creditors about $800,000 including amounts to the Australian Taxation Office and suppliers.
One of Queensland’s longest-running restaurants, The Bavarian Haus in Surfers Paradise has shut its doors after almost 50 years in business.
TLC director Paul Morffew tells your diarist that the business could not survive the impact of Covid-19 and increasingly brutal economic conditions. Fans of the restaurant took to social media last month to lament its closing with one noting “my mum waitressed here when we were school kids. I was always so embarrassed by her funny German uniform, but loved visiting to hear the oompah pah band and eat the pork knuckle. Every time I walked past it reminded me of mum and her with three plates in each arm rushing between the tables.”
Bavarian Haus joins a long list of eateries hitting the wall as cash-strapped customers tighten their belts and inflation surges.
Restaurants and cafes are at most risk of default compared to other sectors, says CreditorWatch. It says operators in the food and beverage sector have a 7.2 per cent chance of defaulting on payments next financial year, a higher rate than companies in the construction, transport, postal and warehousing industries.
The Bavarian Haus in Surfers Paradise has shut its doors.
National restaurant chain Sushi Bay and fine-dining restaurant meal delivery platform Providoor are among the high-profile failures in the sector over the last few months.
CreditorWatch says that while restaurants have benefited from strong trading conditions, economic conditions going into the new financial year would not be favourable.
“This sector is most at risk over the next year,” says CreditorWatch chief economist Anneke Thompson. “This is because restaurants and cafes will continue to have to deal with rising and sometimes unpredictable supply costs but also contend with softer demand.
Fully charged
It’s getting tough in retail but the folk at Brisbane-based Battery World seem to have the right stuff with seven of the company’s franchisees clocking up an impressive 105 years with the brand. Geelong is leading the way, celebrating 25 years in business this month with Lismore closely behind with two decades under its belt. Port Adelaide and Mount Barker will celebrate their 15th birthdays, while Hooper’s Crossing, Burleigh Heads and Tempe have been in business for a decade each. Battery World General Manager Johnny Kennedy says a combined 105 years is phenomenal and we “look toward powering up the next century with pride.” Burleigh Heads franchisee Travers Bawden and his business partner Robert Parry have a big year ahead for their 10th in business with their store undergoing a store refit. “We appreciate that the community relies on our business and we are proud to be able to directly support the local families who have lived in Burleigh for generations as well as those tourists who need a helping hand as they make their way from A to B,” Bawden says. The pair run four stores on the Gold Coast, including Southport, Oxenford and Beenleigh.
Rob Parry from Battery World News