Mike McEnearney’s Sydney CBD restaurant No.1 Bent Street has entered administration, with administrators HoganSprowles appointed on 29 November.
Creditors will meet on 11 December to consider the company’s financial future and decide whether to appoint a committee of inspection
Speaking to GoodFood, McEnearney, who also operates Kitchen By Mike, said a number of business pressures — included disruption due to the light rail development, the launch of Barangaroo and a waning interest in expensive lunches among city diners — resulted in the decision to enter administration.
With the restaurant operating as usual until 22 December, McEnearney is hopeful a few adjustments will see the venue rebound when it reopens in the new year.
No.1 Bent Street opened in a 100-seat heritage site in May 2016. McEnearney’s other ventures are unaffected by the developments.
Image: Daily Telegraph