City Winery Brisbane Pty Ltd today entered into voluntary liquidation, shutting its Fortitude Valley and Edward St locations, as well as Ardo’s locations at Newstead, Milton, Hawthorne and Graceville.
Chief executive Dave Cush confirmed to 9News that the company was in liquidation, blaming the cost-of-living crisis and the impact of the COVID-19 pandemic.
“I am heartbroken at having to make the incredibly difficult decision to close City Winery and Ardo’s,” he said in a statement.
“A drastic drop in consumer spending fuelled by the current cost of living and interest rate environment, coupled with increases in labour and operational costs have all had too great of a compounding impact on our business, along with the historical effects of COVID and lockdowns, for us to continue to operate.”
Cush said the recent opening of The Star nearby in Brisbane’s CBD was the final nail in the coffin for his business.
“The recent opening of The Star at Queen’s Wharf was the proverbial final nail – we simply cannot compete with an operation of that scale,” he added.
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“To our customers and clients affected by this closure, I offer my most heartfelt apologies and thank you for the years of support you’ve given us. You’re the reason we kept going as long as we could.”
Cush, who is a winemaker, opened City Winery Brisbane’s first location in 2019 and a second was opened in Fortitude Valley.
It was a functioning winery with a cellar door, restaurant and event space for private functions.
Ardo’s flagship venue in Newstead, northern Brisbane, was opened in 2023, and three more locations across the city followed.
Darren Vardy of insolvency Options Pty Ltd was appointed liquidator today and confirmed staff have been formally terminated.