Montrachet - Case Update

Mark Holland, Jamie Harris and Anthony Connelly of McGrathNicol, the voluntary administrators of award-winning French restaurant Montrachet, have provided an update on the administration and their negotiations with a bidder looking to buy the restaurant.

Montrachet is owned by celebrity chef Shannon Kellam, who also owns BCN Events Group. The restaurant’s business was disrupted by the liquidation of BCN Events Group in late May, and Montrachet entered voluntary administration in early July.

In their latest report to creditors, the administrators detail the sale process undertaken by them, which resulted in five offers for the business via an asset purchase agreement rather than a DOCA. They have progressed negotiations with a preferred bidder — an “established interstate restauranteur” — and a conditional asset sale has been drafted.

Read the administrators’ report here.