Veuve Ventures Pty Ltd and seven related entities - Voluntary Administration

Veuve Ventures Pty Ltd and seven related entities, which operate seven Pinot & Picasso paint-and-sip studios across Australia, entered voluntary administration on 12 September, citing a reduction in discretionary spending.

Sule Arnautovic of Salea Advisory was appointed voluntary administrator and said that approximately seven staff have been made redundant (of 16 full-time staff and 41 casual staff) while he continues to trade the business. An urgent assessment of the companies’ financial situation is being undertaken to explore a potential restructuring or going concern sale.