'It's not good': Lime Mexican restaurant chain operator Cater Group falls into administration

David Sampson and Max Prentice, of BPS Recovery, were last night appointed administrators to the Port Macquarie-based company, listing 11 businesses controlled by Cater Group that have been caught up in the company’s financial woes.

The restaurants affected include Broughtons at the Bay (Nelson Bay), Lime Mexican Fortitude Valley, Lime Mexican The Entrance, The Landing (Newcastle), The Point Restaurant (Soldiers Point in Nelson Bay), Lime Mexican Coffs Harbour, Lime Mexican Nelson Bay, Lime Newcastle and Lime Mexican Tapas Restaurant & Bar.

Some of these businesses within the group have been closed while others continue to operate.

Lime Mexican Tapas Restaurant & Bar lists four current locations on its website - at the Circle on Cavill building in Surfers Paradise, at the d’Albora Marina in Nelson Bay, on Honeysuckle Drive on the Newcastle foreshore and The Barracks in Brisbane - which appear to still be taking bookings.

Administrator David Sampson tells Business News Australia that his investigations are at a preliminary stage.

 “We just got appointed last night and we are only into the first couple of hours of getting into the job; we’re just dealing with the day one issues right now,” Sampson says.

“All I can do is confirm that we have been appointed administrator over the Cater Group and it has a variety of outlets on the eastern seaboard of Australia.

“We’re wrestling with the insolvency of the business. We’re still coming to terms with what the outcome is likely to be and what the situation of the company is, but it’s not good.”

Sampson says he is unsure which of the Lime Mexican restaurants have been affected by the administration.

“We are still working with the directors about how extensive their brand is.”

He adds that it is too early to determine the total debts of the company.

The first creditors meeting for Cater Group has been scheduled for 5pm on 5 June 2023.