City Winery Brisbane buckles under cost pressures
Another Australian hospitality business has collapsed under cost-of-living pressures.
City Winery Brisbane Pty Ltd today entered into voluntary liquidation, closing its Fortitude Valley and Edward St locations. Darren Vardy of Insolvency Options Pty Ltd has been appointed liquidator and staff have been formally terminated.
The chain’s Newstead, Milton, Hawthorne and Graceville venues have also been shut.
"I am heartbroken at having to make the incredibly difficult decision to close City Winery and Ardo's," chief executive Dave Cush said in a statement.
"A drastic drop in consumer spending fuelled by the current cost of living and interest rate environment, coupled with increases in labour and operational costs have all had too great of a compounding impact on our business, along with the historical effects of COVID and lockdowns, for us to continue to operate."
The opening of The Star in Brisbane's CBD has also had a major impact on City Winery’s business.
"To our customers and clients affected by this closure, I offer my most heartfelt apologies and thank you for the years of support you've given us. You're the reason we kept going as long as we could," Cush said.
City Winery opened its first location in Brisbane in 2019, before expanding to Fortitude Valley.
Cush, a winemaker by trade, created a functioning winery with a cellar door, restaurant and event space for private events.
Jonathan Jackson, 5th September 2024
