Bakery left debts of $5 million
of frozen lamb and rosemary pies selling for $115.92 each, five boxes of frozen sausage rolls (24 in each) selling for $38.42 per box and 62 boxes of pink iced doughnuts (32 in each) selling for $37.15 per unit.
The stock is worth a total of $47,282 according to the liquidators. Machinery, which will be sold along with stock to repay debt and creditors, is reportedly worth $1.039 million.
It includes a Seton pie/sausage roll line bought in 2005 for $60,500, now worth $18,000, and a Rykaart shortbread sheeter bought for $18,182 in 2010 and now worth $8300.
Another report from the liquidators lists a deficit of $3.935 million, after allowing for cash in the bank and the value of machinery and stock.
Records show Australian Artisan Bakery had $100,190 paid on share capital issued.
The landlord for the former KCs Bakery premises at 6 Depot Court is currently seeking a tenant for the vacant space. The 4580sq m property contains a building with a net lettable area of 1952sq m.
It includes a food production area, cool rooms, freezers, blast chillers and dry storage space. There is also a shopfront on the ground floor and offices on the first level.
The leasing agent is Commercial 1 Gold Coast’s Steve Macgregor.