THE financial difficulties for the company behind Bake, Table and Tea have been unable to be resolved, prompting a court to order it to wind up its operations.
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MJK (Bathurst) Pty Ltd went into voluntary administration in July, 2023, seeing Liam Bailey and Christopher Palmer of O'Brien Palmer, an insolvency and business advisory company, called in to address the company's financial difficulties.
A hearing was held on August 1, 2023 and resulted in a winding up order from the Federal Court of NSW.
Mr Bailey and Mr Palmer were subsequently appointed as the liquidators.
"The reason for the liquidation is that the company's major creditor was unwilling to allow the company further time to arrange a refinance in order to fund the work out proposal," Mr Bailey told the Western Advocate.
Regarding Bake, Table and Tea itself, O'Brien Palmer is attempting to find a buyer for the business, a move that could protect the jobs of the 21 people it employs.
"We are continuing to trade the business temporarily to see whether a buyer for the business can be located," Mr Bailey said.
"If a purchaser cannot be located, then the business will need to close and the staff will be terminated."
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He said, to the knowledge of O'Brien Palmer, no employees are owed "significant employee entitlements as most staff were casually employed and their entitlements up to date".
Both MJK (Bathurst) Pty Ltd and Bake, Table and Tea are owned by Melissa and James Kelly.
Ms Kelly, who is hopeful of the George Street business remaining operational, told the Western Advocate on August 3, 2023 that "Bake, Table and Tea is not affected by what James and I are going through personally with our company".
Bake, Table and Tea has been in business since September, 2015 and operates as both a retail store and café.
Palmer O'Brien is currently accepting expressions of interest from anyone considering acquiring the business.
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