Canberra restaurant and function centre Pialligo Estate announces it will permanently close its doors after recent speculation over the financial stability of the business.
abc.net.au/news/pialligo-estate-canberra-restaurant-closes-doors/102157962Canberra restaurant and function centre Pialligo Estate has announced it will permanently close its doors, days after speculation began over the financial stability of the business.
Owner John Russell said it was with a "heavy heart" he had to announce the venue would cease trading. "I have been unable to make an official announcement until now due to the ongoing negotiations with our financiers," he said in a statement posted to the Pialligo Estate website last night.Mr Russell said financiers would be taking possession of the venues this morning and would be seeking new owners for the business.Firefighters battle a fire that broke out in the kitchen at the Pialligo Estate restaurant building in 2017.
Mr Russell went on to highlight the struggles that Pialligo Estate had faced over its 10 years of operation, including rising interest rates and the COVID-19 pandemic.restaurant in a two-year period in 2016 and 2017."During those tough times, we kept our staff and their families going and we tried our very best to assist the Canberra community to endure the lockdowns.
The final weddings at the venue went ahead last weekend, but there has been no further information provided for those with future wedding or dining bookings.
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