Owner Tracey Lester has placed beloved Melbourne venues Windsor Castle Hotel and The Carlton Club under voluntary administration.
Rachel Burdett and Shaun Matthews of restructuring advisory firm Cor Cordis have been appointed voluntary administrators of Furry Meatballs Pty Ltd (trading as The Carlton Club) and Floss Bottom Pty Ltd (trading as The Windsor Castle Hotel).
Due to current economic challenges, the owners have determined that, in the best interests of the company, its stakeholders, and its customers, the appointment of administrators was required to restructure its financial affairs and ensure its continued operation into the future.
“The past few years have been incredibly challenging as we navigate the ongoing impacts of the COVID-19 pandemic on both The Windsor Castle and The Carlton Hotel,” stated owner Tracey Lester.
“We are at the closing end of a restructuring process, and I remain committed to working closely with my advisors and legal team to achieve the best possible outcomes for my team, for these much-loved, iconic Melbourne venues, and a victory for the hospitality industry—proof that it continues to thrive in this vibrant city.”
Cor Cordis is urgently evaluating the business operations of both venues and exploring restructuring or recapitalisation options, including possibly a Deed of Company Arrangement. The businesses will remain operational while Cor Cordis conducts an urgent expressions-of-interest campaign.
“We’ve commenced an urgent review of the financial position of The Carlton Club and The Windsor Castle Hotel. We will provide regular updates to all stakeholders as we work through the voluntary administration process”, said Burdett.
Lester assured patrons of the venues that the venues would remain open throughout the restructuring process via statements on Facebook.
The Windsor Castle is a traditional corner pub with public bar, a dining room seating 40 pax, a large beer garden and multiple first-floor function rooms.
The Carlton Club is a three-storey venue with multiple offers, including a very popular nightclub, a gastropub-style restaurant, a cocktail lounge and function space, and a rooftop bar overlooking the CBD on Bourke Street.