Figures relating to the full extent and breakdown of amounts owed by George Calombaris' Made Establishment group, have become known almost a week after the first meeting of the company’s administrators with creditors.
According to documents submitted by the company, now being checked by advisory and investment firm KordaMentha – the administrator – Made’s bank account had been left with a mere $389 just before it got shut down at the beginning of the month.
The total debt is said to amount for $22.3m, with approximately $8.8m owed to its lender bank.
Creditors include from businesses to tradespeople, with the smaller creditors estimated to be more than 200.
The documents show that some of the restaurant group’s former suppliers are owed tens of thousands of dollars combined from different Made businesses.
The “collapsed” restaurant empire also appears to have an accumulated ATO debt of more than $700,000.
The amounts, based on the documents provided by the company, are early estimates, with final figures expected to be released on 10 March in the administrator’s report.
The Melbourne-based businesses bearing Calombaris stamp went into voluntary administration on 11 February, following the $7.8m wage controversy.
The first meeting with creditors was held last Thursday with a next one expected on 17 March.
