Penrith-born paint and sip business Pinot & Picasso has exited Administration, ending uncertainty over the organisation’s future.
As reported by the Weekender last month, Pinot & Picasso entered Voluntary Administration and made seven people redundant, attributing a reduction in discretionary consumer spending to the decision.
The company’s studios – including its Penrith location – continued to operate.
Last Friday, the company exited Administration after a successful vote on the Deed of Company Arrangement (DOCA) was tabled for creditors.
“The Directors are thrilled for the next chapter of the company,” Pinot & Picasso’s Directors said in a statement.
“Hopefully this festive period regains momentum in the discretionary spending businesses after an incredibly tough 2023 and 2024.”
The business is hoping its more stable future combined with the upcoming festive and party season will see strong growth in the concept.
Troy Dodds
Troy Dodds is the Weekender's Managing Editor and Breaking News Reporter. He has more than 20 years experience as a journalist, working with some of Australia's leading media organisations. In 2023, he was named Editor of the Year at the Mumbrella Publish Awards.