High profile Sydney restaurants enter administration

Two of Sydney’s high-profile restaurants are in administration this week. 

The upmarket Ragatta restaurant, situated on the iconic Rose Bay waterfront, is now under the watch of administrators Andre Lakomy and Alan Walker from Cor Cordis. 

Ragatta has been in operation for the past six years in the site previously home to Pier restaurant and was backed by Damien Pignolet, who enjoyed early creative success before moving on  several years ago. 

Regatta remains open while under administration.

The long-term prospects for the restaurant and how much it owes to creditors has not been revealed, however its financial state will come to light at a creditors meeting on 30 October.

Meanwhile, at Bondi, Panama House is also in liquidation. 

The restaurant started out on Bondi Road before moving to the classy Pacific development located across the road from the beach.

Panama House started offering home delivered meal kits during lockdown.

A spokesperson for Panama told Good Food, "It's not trading at this point of time."

When asked if the impact of COVID-19 contributed to its demise, the spokesperson responded "That's what we need to figure out."

Irit Jackson, 27^th October 2020