A popular burger restaurant on Victoria's Surf Coast has been placed into the hands of external administrators, throwing its future into uncertainty.
Iconic Lorne Burger Joint Faces Restructure
The Bottle of Milk, a well-known burger store on Mountjoy Parade in Lorne, is undergoing a significant restructure under external administration. The company behind the venture, Lorne Foreshore Trading Pty Ltd, appointed Andrew Barnden and David Quinert of insolvency firm Worrells as voluntary administrators on May 7, 2024.
The move has sent ripples through the local community and among summer visitors for whom a visit to the eatery is a staple of a trip to the coastal town. The administrators have confirmed they are currently assessing the company's financial position and exploring options for its future, which could include a sale of the business or its assets.
Administrators Assess Business Viability
Andrew Barnden of Worrells provided a statement regarding the situation. He indicated that the administrators' immediate focus is on stabilising operations while they conduct a thorough review. The first meeting of creditors is scheduled for May 17, 2024, a key date that will provide more clarity for those owed money by the company.
"Our role is to take control of the company, assess its financial viability, and investigate what led to the administration," a representative from the firm explained. The goal is to determine the best possible outcome, whether that involves restructuring the existing business or finding a new owner to take over the beloved brand.
The store is currently listed as temporarily closed on popular review and directory platforms. Its social media channels have also fallen silent, with no official communication regarding the administration process posted for customers.
Community Reaction and What Comes Next
The news has been met with disappointment from locals and holidaymakers alike. The Bottle of Milk has been a fixture in Lorne for years, renowned for its gourmet burgers and prime location opposite the beach. Its potential closure represents the loss of a key dining option in the town, particularly during the busy tourist seasons.
The administrators will now work through the formal process. This involves investigating the company's affairs, reporting to creditors, and ultimately seeking their vote on the future path. Options typically include executing a Deed of Company Arrangement (DOCA) to pay creditors and continue trading, selling the business, or winding it up entirely.
The coming weeks will be critical for determining whether The Bottle of Milk can be saved under new ownership or a restructured model, or if it will become another casualty in the challenging hospitality landscape. For now, the iconic spot on Mountjoy Parade awaits its fate, leaving a noticeable gap on the Lorne foreshore.
