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Chef Scott Pickett's hospitality company, Nord Arc, collapsed due to a massive tax debt, while other linked companies also entered liquidation as part of a major restructuring.
A company linked to chef Scott Pickett, Nord Arc Hospitality, collapsed due to a $2.3 million tax debt. This event occurred shortly after Pickett closed his fine-dining restaurant, Matilda.
Nord Arc was established in 2022 to manage wages for Pickett's staff, but it quickly accumulated significant debts, primarily to the Australian Taxation Office (ATO). In the midst of this financial crisis, five other companies associated with Pickett also appointed liquidators as part of a broader restructuring effort for his debt-burdened restaurant group. Despite the liquidation, Pickett's other restaurants, such as Smith St Bistrot and Chancery Lane, continued operations and paid employee wages.
The restructuring was necessitated by the previous collapse of First Guardian Master Fund, which had financed many of Pickett's ventures.
Scott Pickett Nord Arc Hospitality Tax Debt Liquidation First Guardian Master Fund Restaurant Restructuring
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