- Seven paint and sip studios impacted
- Seven staff members were made redundant
The company behind the popular Pinot & Picasso studios has collapsed into voluntary administration.
Veuve Ventures Pty Ltd, which owns seven Pinot & Picasso studios around Australia, had administrators appointed last Thursday.
The collapse has resulted in seven workers being made redundant across the studios.
Other Pinot & Picasso studios around Australia are not impacted by the administration.
The paint and sip studios boomed in recent years, allowing customers to be guided through an art course while enjoying a glass of wine.
Sule Arnautovic from Salea Advisory has been appointed administrator and said there were 16 full-time and 41 casual staff working at the studios impacted.
Veuve Ventures directors attributed the collapse to ‘a reduction in discretionary consumer spending, as Australians and other customers look to tighten entertainment budgets’, Salea Advisory said.
Mr Arnautovic said he was moving as fast as possible to try and preserve the businesses and jobs.
‘For current franchisees and customers, I am aiming to reduce the impacts on business operations and ensure the companies’ business continues as consistently as possible through this period,’ he said.
More to come
