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Masterchef Couple Having Financial Woes

Chris Badenoch and Julia Jenkins from Masterchef Australia season one are  undergoing tough times in the restaurant industry with their much praised bar/eatery Josie Bones.

The Herald Sun is reporting not only do they owe the tax office money they are under significant financial pressure.

The Herald Sun reports:

The Series One stars admit they’re under severe financial strain as they nurse their Collingwood restaurant and bar, Josie Bones, through an ­industry-wide downturn.

The Australian Tax Office has served meat and beer purveyor Badenoch with a writ seeking to recover about $125,000 for bills dating back to June 2011.

Eating further into profits is the strong competition on hipster strip Smith St – ­including a new souvlaki joint just 500m away from MasterChef judge George ­Calom­baris.

The culinary couple admit things are tight but, newly married, they’re determined to tough it out ­together.

“How it’s portrayed on TV and reality are quite different,” says Badenoch of running a restaurant.

“It all looks awesome on TV, but the ­really horrible side of (hospitality) is it’s tight and getting tighter.

They are determined to battle through:

Twice-bankrupt, Badenoch says he has learnt lessons from his previous run-ins with corporate regulators and is facing his financial problems front-on.

“The lesson you learn is you deal with it better. Deal with it, not let it go. We’re going to deal with it and keep moving,” he says.

The newlyweds – who had a wheel of cheese instead of a cake at their simple ceremony in Daylesford last month – haven’t had time or money for a honeymoon, and are working seven days a week.

But the pair are optimistic things are picking up, and are hopeful of striking a deal with the tax office in coming days to negotiate a payment plan.

They have had a string of equipment failures and breakdowns, with repair bills adding even more strain.

Hopefully they come out the other side of this financial mess.

17 comments

1 brain dead dave { 09.23.13 at 3:33 pm }

They can open a new establishment~

Bones Of Their Arse.

Same leopard , same spots. All those boutique beers on display the other week~ none of them paid for. We tried to warn you ,Julia.

2 ExEssex { 09.23.13 at 6:26 pm }

Seems to be this guys MO. I wonder how many people/suppliers he ‘accidently’ hasn’t paid yet??? How anyone gave him a line of credit in the first place is beyond me. Twice bankrupt already in small business, then he fronts up to go again!
And once again it seems to be everyone else’s fault.
How is it that they don’t have a penny, but could afford a wedding at The Lakehouse? I wonder if they invited any of their suppliers?
But excellent financial timing to get married, just in time to $ell their story AGAIN to a woman’s magazine.
Thinking about the other alumni from that year, you have Andre, Julie and Poh all making successful careers for themselves.
It appears that cheaters never win, and winners never have to bother cheating

3 Littlepetal { 09.23.13 at 7:53 pm }

Running a restaurant is a tough business. Jimmy, the curry man is smart not to go ahead with his Indian restaurant. Same with Adam Liaw. He still taking his time to open the Japanese restaurant.

4 ClockworkZombie { 09.24.13 at 8:45 am }

Actually bankrupt people may find it easier to get a loan once they are out of the period they may not apply for credit.
IF they can prove to the bank or lender they have learned from previous mistakes. An accurate business plan is a must though they rarely remain accurate after 6 months.

Remember 90% of all new businesses fail in the first year and 90% of those that make it fail in the second. Bankruptcy may well happen to those driven to opening a small business which is why they are often given a another go by banks.

5 Culinary Boner { 09.24.13 at 9:11 am }

Call me a fickle, superficial, gluttonous booze-hound but establishing a damn fine noshery dedicated to beer, meat and offal would almost atone for a capital crime in my books.

Having a ‘record’ as a successful root rat and a bankrupt is pretty small beer, compared to other ‘colourful’ reality TV stars – http://www.theage.com.au/national/geoffrey-edelsten-faces-contempt-charges-in-florida-20130922-2u81n.html

6 Maz { 09.24.13 at 9:46 am }

We could make a snarky reference to sexually transmitted debt but is it tough. MC has cultivated expectations that do not met with reality and perhaps they could structure challenges better as they are never judged on profit but turnover.
http://www.abc.net.au/radionational/programs/rnfirstbite/restaurant-crisis/4916226

7 brain dead dave { 09.24.13 at 9:59 am }

“To love ,honour and cherish… ’til debt do us part”

If arguments about money are a leading cause of marital stress, the Badenochs are probably doing it tough there, too.

8 Bern { 09.24.13 at 11:19 am }

Personally I wish Chris and Julia all the luck and hard-earned luck they can get. Their restaurant has been widely praised and by using the whole animal, they are giving respect to the animals that gave their lives to end up on the dinner table.

As for Chis twice before being bankrupt, we don’t know all the circumstances of those situations. At least Chris has stuck around and not gone overseas like other business wigs have done.

My husband and I lost over $300,000 ourselves in the hospitality industry through no fault of our own – it’s a hard business but a rewarding one (and I don’t mean financially) when it goes well.

9 Bern { 09.24.13 at 11:27 am }

Regarding unfair misconceptions about the romance of the hospitality/restaurant business that MC gives to the contestants: yes I agree with this in part. The case of Emma Dean using so much high-priced truffle in one of finale dishes is a case in point – not one judge reigned her back in with saying that that was an unrealistic amount of truffle to be using in a dish for a restaurant meal. But then when you listen to Matt Moran talking about wasting low and high priced ingredients in a service, surely that must make the contestants think that the business is not all wine and roses. Perhaps one of next year’s challenges could be setting up a pop-up restaurant for a week and having to have the results judged on how financially viable a restaurant was, taking in to account wages, food costs, electricity etc with the teams having to do a profit/loss statement every day. Anyone that is in danger of closing down, then has one day left to turn a profit or else be closed down and out of the running for that week’s immunity. Not the most pleasant storyline for the week but very much a real-life one.

10 Culinary Boner { 09.24.13 at 3:33 pm }

MasterChef Australia isn’t Robinson Crusoe when it comes to unrealistic restaurant/catering challenges that take no account of the cost of ingredients and all the other equipment and ancillary expenses of the operation. My Kitchen Rules this year seemed to reward contestants using (and abusing) expensive, basically financially unsustainable, ingredients.

And I can’t help but speculate on the role Iron Chef played in the decades long economic downturn that’s afflicted Japan.
Would sir like a slab of foie gras alongside his beluga caviar and black truffle encased abalone and whale meat terrine showered with gold leaf? *At which point the generic child-voiced Japanese actress, number 35 in the season so far, titters demurely*

11 daisy { 09.24.13 at 3:43 pm }

ha ha CB. I’m missing your humour. Looking fd to our shows colliding again.

12 Culinary Boner { 09.24.13 at 3:54 pm }

Thankfully there’s footy and the baseball at the moment to keep me happy, Daisy.

I presume that after Big Brother and them ‘talent’ shows finish the commercial networks will regale us with some awful overseas shows they were contractually obliged to buy as part of a package deal.

Then again, there’s always the hope that maybe, just maybe Ajay can appear on the new reality show I read about today ‘Sex Box’ – http://www.telegraph.co.uk/culture/tvandradio/10327962/Sex-Box-Mariella-Frostrups-chat-show-with-lovers.html

13 daisy { 09.24.13 at 4:26 pm }

Firstly let me say, “Gross”

Secondly I’m going to have to send you a photo of me obese and blond and wearing an itsy witsy teeny weeny bikini to keep you interested 😉

14 EmTee { 09.25.13 at 1:11 am }

C.B.’s private life and greasy looking hair aside, I doubt any of us could dispute he was one of the most adept cooks in the MC kitchen and kudos to him for still having pursued his food dream without the benefit of any prize money.

Unfortunately for he and Julia these are tough times for the industry and given the big name chefs whose restaurants have gone under in the last few years, they’ve done well to survive thus far – especially given they are catering to such a niche clientele.

Although their type of food does not appeal to me, I respect their food philosophy and admire what they’ve been able to do with parts of the animal many of us wouldn’t even consider.

I sincerely wish them good luck in getting out of their current financial mire.

15 brain dead dave { 09.25.13 at 7:07 am }

Respect the animal but dishonour your creditors.

16 Georgie { 09.25.13 at 7:42 am }

“The lesson you learn is you deal with it better. Deal with it, not let it go. We’re going to deal with it and keep moving,” he says.

So Chris is eating the whole crow.

Yeah small business is a tough game and when someone decides to go to the wall because they can’t pay their bills, instead of ‘dealing with it’, they take other small businesses with them. The domino effect. We’ve been on the creditor end before and it’s not nice.

17 reparacion conductos { 09.30.13 at 11:07 pm }

¡Gran aporte! Ciertos criterios. Manten este liston es un post sincero. Tengo que leer màs blogs como este.

Saludos