TWO of Perth’s dining institutions have been placed into voluntary administration.
On Monday afternoon, administrators took over the company behind the Trustee Bar and Bistro on St George’s Terrace and Beaufort Local, which was formerly known as Beaufort Street Merchant.
Business owner Scott Taylor said the decision was not taken lightly.
“There is still some inherent value in the business for us to achieve a fire sale so we can satisfy all of our obligations that we have outstanding to a number of people around the traps,” Mr Taylor said.
“We’ve got 85 team members that we work with who turn up to work every single day and pour their heart and soul into what they do.
“This was the best option for us to be able to ensure that they remained in gainful employ until the end of this process, which will probably be somewhere between January and March next year.”
Mr Taylor said the decision was also undertaken to make sure his business could meet its outstanding bills to suppliers.
“These aren’t huge amounts, but they’ve still got to pay their bills,” Mr Taylor said.
“So instead of throwing up our hands and waiting until we got pushed into administration and doors closed with no value, going into voluntary administration (means) … what I get to do in three months time when the businesses sell, I get to pay all of those bills.”