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Chef Scott Pickett’s companies entered administration after a $12M loan from collapsed fund First Guardian became unrecoverable.
Celebrity chef Scott Pickett has placed two companies linked to his hospitality group into administration following the collapse of the First Guardian superannuation fund, which had provided a $12 million loan now deemed likely unrecoverable.
Despite the financial restructuring, Pickett confirmed his Melbourne restaurants—Matilda, Longrain, Chancery Lane, and Smith St Bistrot—will remain open, with staff paid on time and bookings and vouchers honored.
He is seeking an investor to stabilize the business, while the Commonwealth Bank has appointed receivers to sell assets including a Fitzroy apartment and the Chancery Lane premises.
The fund’s operator, David Anderson, resigned amid allegations of mismanagement, and ASIC is investigating the fund’s investments, including those in Pickett’s ventures.
Las compañías del chef Scott Pickett entraron en administración después de que un préstamo de 12 millones de dólares del fondo colapsado First Guardian se volviera irrecuperable.