Latest news with #ReynoldPoernomo
Sky News AU
5 hours ago
- Business
- Sky News AU
MasterChef star Reynold Poernomo's restaurant collapses with ‘King of Desserts' owing more than half a million dollars in unpaid wages and debts
A company associated with former MasterChef legend Reynold Poernomo has collapsed, owing half a million dollars in workers wages, superannuation benefits and unpaid debts. Arnoldpo Corporation Pty Ltd, the company that operated Poernomo's Monkey's Corner restaurant in Chippendale was forced into liquidation on May 28, a year after the award-winning premises abruptly closed its doors following a sudden Instagram post. Poernomo first opened the Japanese-inspired venue with his two brothers Ronald and Arnold in 2017 shortly after he made his MasterChef debut in 2015. Although the Instagram post promised the trio were 'cooking up something new' it can now be revealed that administrators have been appointed to settle the company's financial obligations, which include $500,000 in unpaid super and mammoth debts to the Australian Tax Office. Despite hinting at a new culinary project, no new venue has been formally announced. According to a report lodged with the Australian Securities and Investments Commission (ASIC), the company linked to Poernomo owes staff $76,000 in super repayments and $458,002.17 to the ATO. The documents also showed that the company owes Sunnyside Financial Group and ASIC itself more than $5000 in fees. Henry Kwok and Antony Resnick from the dVT group have been selected as interim liquidators. It is believed that Poernomo's iconic dessert empire Koi Kitchens, based in Chippendale, Ryde and Melbourne, could also be under threat. The desert chain specialises in exclusive and intricate cakes and sweets and has received glowing praise from reviewers and industry aficionados. The company that oversees the businesses, Art Plate Pty Ltd, underwent a sweeping financial restructure in 2024 which resulted in mass layoffs and cost cutting efforts. The Daily Telegraph reported that multiple Koi suppliers had been pursuing the Poernomo brothers for unpaid invoices, some numbering in the tens of thousands of dollars. One disgruntled supplier told same outlet he would stop trading with the Koi brand due to a string of unpaid wages. Numerous Koi employees also claimed they have been hounding all three Poernomo brothers to be paid significant amounts of super and delayed wages, an issue which has been ongoing since December. 'We are chasing what we are owed, and it's become very stressful and toxic,' they told The Daily Telegraph. 'Many staff have left.' Although Poernomo is not named as a director in any of the family run companies, his website lists him as an owner and operator of the various businesses alongside his brothers. has reached out to Poernomo for comment.
Daily Mail
15 hours ago
- Business
- Daily Mail
MasterChef star's restaurant business collapses owing half a million dollars
One of the businesses owned by MasterChef alum Reynold Poernomo has collapsed, as fears grow his popular dessert bar could be in trouble. Arnoldpo Corporation Pty Ltd, which operated as Monkey's Corner in Chippendale, was placed into liquidation on May 28, just over a year after the venue closed its doors. The small-plate bar and restaurant shut down in March 2024 after seven years in business. It was first opened in 2017 by Reynold and his brothers, Ronald and Arnold. Both Arnold and Reynold are listed as directors of the company. 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 Poernomo has opened in the space. According to documents filed with the Australian Securities and Investments Commission (ASIC), the company owes more than $500,000 in outstanding debts. Of that, over $450,000 is owed to the Australian Tax Office (ATO), and $76,000 is linked to unpaid staff superannuation. Additional creditors include Sunnyside Financial Group and ASIC itself, with a combined debt of more than $5,000, as reported by The Daily Telegraph. Henry Kwok and Antony Resnick from dVT Group have been appointed as liquidators. The liquidation follows a series of financial restructures involving Poernomo's other business ventures. In 2024, Art Plate Pty Ltd, operator of his acclaimed Koi Dessert Bars, underwent a corporate restructure. Another company, JRP Desserts Pty Ltd, also oversees Koi operations, with Reynold's eldest brother Ronald and mother Ike Malada listed as directors. Despite the setback, Poernomo - nicknamed the 'King of Desserts' during his time on MasterChef - continues to run his dessert empire. Koi Dessert Bar now has three locations, Chippendale and Ryde in Sydney, and one in Melbourne's CBD, where he serves up his elaborate and visually striking cakes. However, former employees of Poernomo, who spoke to The Daily Telegraph on the condition of anonymity, say they are still following up on unpaid wages. 'We are chasing what we are owed and it's become very stressful and toxic,' one staff member said. 'Many staff have left.'
