In a significant development, the widely popular Japanese restaurant, Okami, known for its TikTok fame, has placed 16 of its venues into voluntary administration, resulting in over 250 staff members losing their jobs post-Christmas.
The economic challenges posed by inflation and pandemic-related costs are cited as the primary reasons behind this strategic move.
Eight Okami restaurants in New South Wales, five in Victoria, two in the Australian Capital Territory, and one in South Australia are affected by this decision, impacting the expansive network of more than 50 Okami locations across Australia, known for its all-you-can-eat offerings featuring over 30 diverse dishes.
The affected Okami venues include Glenunga in South Australia; Braddon and Mawson in Canberra; Ballarat, Camberwell, Hampton, Melton, and Sunbury in Victoria; as well as Camden, Cronulla, Dubbo, Marrickville, Pennant Hills, Penrith, Sutherland, and Wagga Wagga in New South Wales.
The administration process will be overseen by the audit, tax, and advisory firm Grant Thornton, with Phillip Campbell Wilson and John McInerney appointed as joint administrators.
Phillip Campbell Wilson, speaking on behalf of the administrators, assured that the 16 Okami restaurants would continue regular operations during the Christmas period, mitigating the immediate impact on employees.
“The workforce at the restaurants comprises approximately 250 employees encompassing full-time, part-time, and casual staff,” Campbell Wilson stated. “The administrators have executed a Management Agreement with Okami Distribution to continue trading the businesses during the Voluntary Administration period. This approach is aimed at preserving business value and providing an opportunity to consider a formal restructuring plan.”
He further emphasized the commitment to funding pre-appointment wages, ensuring all employee wages are up to date, and expressed the intention to minimize the impact of the administration on employees leading into the holiday season.
