High-end steakhouse Botswana Butchery has entered voluntary administration In Australia.
The restaurant chain found success in New Zealand first before expanding to Sydney and Melbourne in 2022.
However, the future of the Australian venture is now uncertain following the appointment of BDO as voluntary administrator by its owner, Good Group Australia, on March 31.
The three Australian restaurants, including Canberra which opened just two months ago, will continue trading for the time being while their viability is assessed.
‘The administrators are undertaking an urgent assessment of the companies and if possible, intend to continue trade with a view of facilitating a restructure or going concern sale process in due course,’ the BDO statement read.
The business’ difficulties come as many in the hospitality industry struggle due to the cost-of-living crisis brought on by inflation, interest rate and rent rises, which has savaged people’s disposable income.
The Sydney location of Botswana Butchery in Martin…