Monday, 10 December 2018
Scott Langdon and Rahul Goyal of KordaMentha Restructuring have been appointed Voluntary Administrators of the THR1VE chain of restaurants.

The nine restaurants in Sydney, Melbourne and Brisbane will close this morning. In NSW, three of the restaurants are located in the Sydney CBD, one in Greenwood Plaza in North Sydney and one at Westfield Warringah. In Victoria, two of the restaurants are located in the CBD and one at Chadstone. The Queensland restaurant is situated in Post Office Square in Brisbane.

The voluntary administration process does not impact THR1VE’s ready meal business, which distributes its best-in-class ready meals via a company-run ecommerce platform and through wholesale partners.

The THR1VE group and SumoSalad have signed a heads of agreement to explore the creation of a leading 'house of wellness brands' through a merger of the two businesses. SumoSalad says its mission is to “bring together category leading health and wellness brands, passionate founders, and best-in-class teams to meet the evolving needs of the customer in this high-growth market.”

About 150 employees work in the nine restaurants. Mr Langdon said today: “All workers will get their full entitlements before Christmas under a loan provided to the Administrators by the majority owners. THR1VE restaurant workers will get priority access to new jobs at SumoSalad. All the fresh food from the restaurants will be donated to charity.”

The THR1VE restaurants were launched six years ago with an emphasis on healthy eating using local chemical-free produce.

The First Meeting of Creditors will be held in Sydney on 19 December.

Media enquiries:

Michael Smith
Inside Public Relations
0411 055 306 | [email protected] 

About KordaMentha Restructuring

KordaMentha Restructuring works with companies in financial distress – to restructure and to stabilise the business or to recover value on behalf of stakeholders.