{"id":88823,"date":"2025-10-19T22:09:07","date_gmt":"2025-10-19T22:09:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/88823\/"},"modified":"2025-10-19T22:09:07","modified_gmt":"2025-10-19T22:09:07","slug":"auckland-restaurant-sidart-owes-former-owner-almost-1m-after-going-into-liquidation","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/88823\/","title":{"rendered":"Auckland restaurant Sidart owes former owner almost $1m after going into liquidation"},"content":{"rendered":"

\u201cTo our amazing guests, thank you for your continued patronage, your smiles, and the many conversations that turned into lasting memories. It has been an honour to serve you.\u201d<\/p>\n

Jared Booth and Tony Maginness of Baker Tilly Staples Rodway were appointed liquidators of All in Cuisine Limited, trading as Sidart Restaurant on October 13.<\/p>\n

The liquidators said the company ceased trading because of cashflow difficulties.<\/p>\n

\"SidartSidart owner and executive chef Lesley Chandra.<\/p>\n

According to their report, the company owes $967,906 to secured creditor The Epicurian Consultancy Limited, which is owned by Sid and Chand Sahrawat.<\/p>\n

The liquidators said the General Security Agreement holders\u2019 claims will continue to accrue interest until fully paid.<\/p>\n

Inland Revenue is owed $177,920 in GST and PAYE, while employees are owed $2606.<\/p>\n

Unsecured creditors are owed more than $94,000.<\/p>\n

The liquidators withheld the book value of the company\u2019s assets from their report, saying \u201cit may materially prejudice the performance of the liquidators\u2019 function with respect to the realisation of company assets\u201d.<\/p>\n

When contacted by the Herald today, Sid and Chand Sahrawat said they were unable to comment further on the debt owed to them while the business is with the liquidators.<\/p>\n

Sidart was named Cuisine Good Food Awards\u2019 \u2018Restaurant of the Year\u2019 in 2019 while under the ownership of the Sahrawats.<\/p>\n

\"FormerFormer Sidart owners Sid and Chand Sahrawat. Photo \/ Babiche Martens<\/p>\n

The Sahrawats told the Herald last week they were \u201cdeeply saddened to see Sidart close its doors\u201d.<\/p>\n

\u201cThe past couple of years have been tough for all hospitality operators and our hearts go out to owner Lesley Chandra and his team as we know they worked extremely hard to try and keep the doors open.<\/p>\n

\u201cThis is just another reminder that, if you can, please support your favourite hospitality and retail businesses.\u201d<\/p>\n

Recent Centrix data shows hospitality is the second-largest industry contributing to company liquidations<\/a> with 297 recorded in the 12 months to July, up 49% on the prior year.<\/p>\n

In the past 12 months, 2564 hospitality businesses have shut, more than the 2158 a year earlier.<\/p>\n

The Restaurant Association said in a newly released report<\/a> that total annual sales for the year ended June 2025 were $15.99 billion, up 1.4% and a record for the industry.<\/p>\n

Marisa Bidois, Restaurant Association CEO, said the industry has had to be very adaptable over the last few years.<\/p>\n

\u201cIt\u2019s about evolving to the current market, and a lot of our businesses that are doing well have been doing just that. They\u2019re getting creative with how they make offerings to their customers, creating different price points for people.\u201d<\/p>\n

Cameron Smith is an Auckland-based business reporter. He joined the Herald in 2015 and has covered business and sports. He reports on topics such as retail, small business, the workplace and macroeconomics.<\/p>\n

Listen and subscribe to the Today in Business<\/a> podcast \u2013 the top headlines from the NZ Herald business team summarised and delivered by an AI voice as an easily digestible recap.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cTo our amazing guests, thank you for your continued patronage, your smiles, and the many conversations that turned…\n","protected":false},"author":2,"featured_media":76997,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[7495,3225,74,15408,51,2546,138,17397,1888,2740,22220,12620,296,2739,12624,1132,130,111,139,69,44236,2738,26890,1560,2539,7493,60018,131],"class_list":["post-88823","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-1m","tag-according","tag-after","tag-almost","tag-auckland","tag-awardwinning","tag-business","tag-creditors","tag-first","tag-former","tag-going","tag-inland","tag-into","tag-liquidation","tag-liquidators","tag-million","tag-more","tag-new-zealand","tag-newzealand","tag-nz","tag-owes","tag-owner","tag-ponsonby","tag-report","tag-restaurant","tag-revenue","tag-sidart","tag-than"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/88823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=88823"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/88823\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/76997"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=88823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=88823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=88823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}