Queensland ‘dessert cocktail’ chain Cowch has called in the administrators, but its founders have pledged to keep serving Instagram-ready drinks through the difficult process.
Founded in 2014 by Arif and Havva Memis, Cowch grew from a single site west of the Brisbane CBD to a collection of five venues across the city and the Gold Coast.
The business built its name on “super decadent desserts and its signature over-the-top hospitality,” a company blog states, with its eye-catching food and drinks becoming popular across social media.
The company claims to have produced more than 34,000 litres of gelato and 73,000 pancakes in the 2021-2022 financial year.
Cowch’s plan to on-shore its supply chain and production capacities drew the attention of Queensland Treasurer Cameron Dick and Small Business Minister Di Farmer, who visited the company’s Morningside venue in late February.
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But in a Thursday announcement, the Memis family informed fans of the “difficult decision” to place the Cowch Group of businesses under voluntary administration.
“Seeing Cowch grow into a beloved brand with multiple venues and a manufacturing business has been an incredible journey, and we could not have done it without the support of our wonderful community,” they said.
“However, like many other small businesses, we have been faced with challenges beyond our control, including the COVID-19 pandemic, floods, and ongoing economic difficulties.”
The business will continue to trade and its venues will remain open as the voluntary administration process takes place, they added.
Documents filed with the Australian Securities and Investments Commission state Terry Grant van der Velde and Terry John Rose of SV Advisory were appointed joint administrators of eleven entities linked to the Cowch brand.
An initial meeting of creditors will take place virtually on March 24.
SmartCompany has contacted SV Advisory for comment.
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
