The Brass Barrel shuts its doors after nine months in business.
The British-inspired eatery received positive reviews online, but the liquidator appointed to the company has revealed why the pub has already closed its doors.
A BRITISH-inspired pub based at Paddington’s trendy Rosalie Village precinct has closed after high costs drove it into liquidation just nine months after it opened.
The Brass Barrel launched in March 2019 but its parent company, Les Echalottes Pty Ltd, was put into liquidation on December 17.
Despite the pub receiving mostly positive reviews online, director Phillippe Boussard closed the its doors last month as debts hit $26,123.
SM Solvency partner Brendan Nixon was appointed liquidator to The Brass Barrel, located in Paddington’s boutique Rosalie Village.
“The director attributes the company’s demise to cashflow shortages arising from a decline in sales and high operating costs,” Mr Nixon’s report on the company noted.
Just 13 creditors are owed money from the company, with PAM Properties Pty Ltd the largest listed, owed $11,458.
Australian Liquor Marketers and the Australian Taxation Office are among those named as creditors, but the amount owed is unknown.
Mr Nixon estimates the pub’s assets include $4000 in plant and machinery and $850 owed to the company.