Latest news with #KOIDessertBar
News.com.au
4 days ago
- Business
- News.com.au
Tragic news for beloved MasterChef star Reynold Poernomo as latest restaurant goes bust
MasterChef star Reynold Poernomo has received some tough news this week with his high-end dessert bar in Melbourne going bust. The business behind KOI Dessert Bar in Melbourne, known for its luxurious, highly creative, and visually stunning treats, has entered voluntary administration. The family run business, which also has two establishments in Sydney, became known to the public when Poernomo placed fourth on the 2015 series of the beloved Channel 10 show. It's the latest in a series of blows for the popular chef, who's business Monkey's Corner in Sydney entered liquidation in May, according to Herald Sun. The business, which was opened back in 2017, reportedly owed almost $500,000 to creditors at the time of its closure, including unpaid taxes. Managing director of KOI Dessert Bar Ronald Poernomo, Reynold's brother, told News Corp that the Melbourne venue, located at 100 Queen St, was continuing to trade during the administration process. 'KOI Dessert Bar has since begun the process of seeking a new licensed retailer to take over the Melbourne location, in line with our commitment to uphold the quality and reputation of the KOI brand,' he said. 'The site is currently under the control of an administrator, who has listed it as a potential franchise opportunity. 'This is a common commercial strategy designed to attract the highest possible value for the business. 'The viability of other alternate options to preserve KOI's presence in Melbourne will also be discussed with the administrator in good faith.' He added: 'This matter pertains solely to the Melbourne operations and does not reflect the health or viability of KOI Dessert Bar's wider operations. 'The KOI Dessert Bar brand – including its Sydney venues (Chippendale and Ryde) and global collaborations – remains unaffected. 'KOI Dessert Bar remains fully committed to its customers, staff, and suppliers, and to delivering world-class culinary experiences with creativity, integrity, and care.' Meanwhile, Poernomo previously revealed that he will never return to the show following yet another devastating loss. The pastry chef first appeared on the reality show back in 2015 where he finished in fourth place, and returned to the show five years later where he came third. His latest stint saw him crowned the runner-up on Dessert Masters in 2023, and despite fans rallying behind him on social media, Poernomo confessed he had officially had enough of always being the reality TV bridesmaid. He told Yahoo Lifestyle there is 'not a chance' he will return for another chance at the crown, and revealed his loss has sparked his decision to move to a country where he's more appreciated. 'I can't just be pigeonholed the whole time on the show,' he shared. 'It's time for me to keep growing and keep moving onto bigger things. It's not the end, it's just the beginning.' Maybe I might go for Michelin overseas, maybe I might go into the entertainment industry overseas. But definitely somewhere in Asia or somewhere in the States.'
Daily Mail
4 days ago
- Business
- Daily Mail
Second restaurant linked to MasterChef star Reynold Poernomo's enters administration just months after trendy cocktail bar folds
Melbourne 's KOI Dessert Bar, founded by MasterChef star Reynold Poernomo and his brothers, has entered voluntary administration little more than a year after opening its doors. The Queen & Collins venue launched in July 2024 with a 42-seat dining room, retail patisserie, and high-end dessert sculptures. It marked KOI's first expansion outside Sydney, where the brand has two outlets. Administrator reports show the Melbourne operation's parent company, Poernomo Enterprise, owes creditors more than $1.6 million, much of it to related parties including family members and affiliated businesses. Managing director of KOI Dessert Bar, Reynold's brother Ronald, told News Corp that the establishment was continuing to trade during the administration process. 'KOI Dessert Bar has since begun the process of seeking a new licensed retailer to take over the Melbourne location, in line with our commitment to uphold the quality and reputation of the KOI brand,' he said. 'The site is currently under the control of an administrator, who has listed it as a potential franchise opportunity,' he said, noting that this is a 'common commercial strategy' used to attract buyers. 'The viability of other alternate options to preserve KOI's presence in Melbourne will also be discussed with the administrator in good faith,' he added. Ronald assured that all creditors, including staff and suppliers, have been paid in full, with nothing owing. KOI's Sydney operations in Ryde and Chippendale remain open and unaffected. It's not the first blow to the Poernomo hospitality empire this year. In May, a Japanese-inspired bar called Monkey's Corner - opened by Reynold and his brothers Arnold and Ronald - was also placed into liquidation. The restaurant had actually closed in March 2024 after seven years in operation. According to documents filed with the Australian Securities and Investments Commission (ASIC), the company owed more than $500,000 in outstanding debts. At the time of the closure, the team shared a message on social media hinting at future plans for the site, writing they were 'cooking up something new.' However, no new venue operated by a Poernomo opened in the space. It is not suggested Reynold held financial, legal or operational responsibility for Monkey's Corner. The collapse followed the restructure of another separate Poernomo family business, Art Plate Pty Ltd, in 2024. Art Plate along with another company, JRP Desserts Pty Ltd, oversees KOI Dessert Bars. Reynold's eldest brother Ronald and mother Ike Malada are listed as directors of those companies, while Reynold is associated as the face of the business. Reynold Poernomo is not a director of any of the companies mentioned in this article. His website states he co-founded KOI Desserts Bars and Monkey's Corner. Reynold shot to fame as a contestant on the seventh season of MasterChef Australia, finishing fourth. He reprised his role on in the Channel Ten series' 12th season in 2020, going one better with a third place berth. He then tried his luck a third time, in the first season of spinoff Dessert Masters Australia in 2023. Victory was not to be however, with Reynold named as runner up behind winner Gareth Whitton. Following his defeat, Reynold took to Instagram to share his disappointment and said he was devastated he had never received an award for his culinary delights, or even been reviewed. Alongside a gallery of photos of him hard at work in the kitchen creating a variety of delicious pastry desserts, he wrote a heartbreaking caption. 'Although I may not have won, my head is still held high. My two best desserts I've ever done for Experiential may not have the been the best for tonight,' he began. He added he was eager to one day receive an award for the delicious desserts he spends hours in the kitchen making. 'It has been quite challenging to even gain the attention of the food media in Australia. Going eight years of never being reviewed or winning an award, he said. 'It's the reason why I've chosen to come back on and put myself out there for the world to see as well as challenge myself amongst peers. 'I am incredibly thankful for the opportunity and hold great pride being a self-taught chef, so once again thank you all.'
