Administrators put Botswana Butchery to rest
The final nail in Botswana Butchery’s coffin was hammered in on May 14, when BDO administrators, Andrew Sallway and Duncan Clubb, closed down its three restaurants.
Botswana Butchery parent company, Good Group Australia, went into voluntary administration on March 31.
The restaurant managers said in a statement, “It is with deep regret that we have made the unfortunate, but necessary decision to close our Botswana Butchery businesses in Sydney, Melbourne and Canberra.
“All effective end of day Tuesday 14 May 2024, due to adverse trading conditions.
“While we are disappointed with this outcome, unfortunately we had exhausted every option.”
The closure of the upmarket steakhouse chain leaves 200 people without jobs and a debt of $23 million.
The owners blamed 'adverse trading conditions' for the collapse.
The company’s Martin Place White and Wong's venue ceased trading in April along with stores in Chadstone and Chapel Street in Melbourne.
The remaining three steakhouses remained open. However, it was proving too costly with an operating loss of $207,000 in only a month.
BDO administrators told news.com.au the business was no longer viable.
“Due to the significant cash losses being incurred in operating the restaurants, the group’s shareholders are no longer able to fund the ongoing trading and restructuring costs,” BDO said.
The Sydney restaurant was massive, with seating for 300 guests across three floors and room for over 900 standing.
It was known for its 1.6kg wagyu tomahawk steak for $390, gold-dusted meat, lobster and desserts.
Jonathan Jackson, 16th May 2024
