Golden Century goes into administration

[GoldfishMan]

Looks like the Sussex St restaurant is gone. It's the end of an era as far as late night dining is concerned!
https://www.news.com.au/travel/travel-ideas/food-drink/sydney-restaurant-golden-century-goes-into-voluntary-administration/news-story/876e0b66334f5c0c841fc8679aff66a1

[Ballspin]

Sad news. Hope they find a way to open again.

[Riff888]

Had some good memories there with work colleagues after bonus time.

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[Ziggurat]

I loved the Golden Century, even just walking past the fish tanks...:sweat:

[wilisno]

It’s really sad, one of the best restaurants in Sydney if not the best !

[GongMan55]

No more pipis in XO sauce [emoji22]


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[Sharphorse]

This is a travesty. I’m dreading to think what favourite restaurants in Chinatown could be gone after this lockdown, let alone the WLs too 😭

[fud]

I'm sure they'll resurface somewhere. Their XOPP and The Century at the Casino is still trading so we haven't heard the last of them I reckon.

[Rogeryou]

No more pipis in XO sauce [emoji22]


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Agree best in Sydney and in the early days before it got banned the drunken prawns.

[Climax598]

This is a travesty. I’m dreading to think what favourite restaurants in Chinatown could be gone after this lockdown, let alone the WLs too 😭
Maybe some of the wl/ml shops are gone too if the lockdown keeps on extending.

[GoldfishMan]

This is a travesty. I’m dreading to think what favourite restaurants in Chinatown could be gone after this lockdown, let alone the WLs too 😭
Yes it's really sad. These restaurants helped form happy memories of life in Sydney, now they're gone.
Here are a couple more I could think of:
Madang, closed last month:
https://au.news.yahoo.com/madang-shuts-down-021622380.html
BBQ King, closed after the first wave:
https://www.9news.com.au/national/bbq-king-sydney-closes-after-40-years-famous-for-peking-duck/8c0f667b-c569-489e-9fa3-4b1a8008bf88

[GoldfishMan]

I'm sure they'll resurface somewhere. Their XOPP and The Century at the Casino is still trading so we haven't heard the last of them I reckon.
The problem with restaurants like Golden Century is they thrive on dine-in customers. That's their appeal... Live seafood you can see with your eyes. I asked one of their "captains" why they don't do delivery, like with Easi or Ubereats, he said it's to avoid tarnishing their reputation for fresh live seafood, and also because most people who are after what they normally offer wouldn't even try to get it using a delivery service.

Those other shops are still up, but I fear it is only a matter of time before they are forced to wind those up as well.

[suka02]

The casino one is unnoticeable. it is located outside the star in small corner of quite area. If they had moved inside the casino area it would be busy, i know they wont let it in as it will competes to the casino outlets and restaurants.

Sadly most business now are into administration. They really can’t keep up with outgoings even little help from the gov. After lockdown lifted we will not see many business open anymore and not many choice available where to eat.

[Riff888]

Maybe some of the wl/ml shops are gone too if the lockdown keeps on extending.It's sad, a few Korean girls are thinking about going home.

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[rooter]

It's sad, a few Korean girls are thinking about going home.

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I am surprised they are still here!

[Riff888]

I am surprised they are still here!They were holding out for the end of August.

Some are applying for childcare jobs but not sure even if that will be safe.

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[rooter]

They were holding out for the end of August.

Some are applying for childcare jobs but not sure even if that will be safe.

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I guess for the last 18 months Australia has been the best place in the world to be in.
Safe, almost zero covid, and business as usual in most industries.
And the girls that stayed have been doing good business with the market cornered and without constant competition coming in from overseas.
This latest lockdown might be the tipping point for some though.
The ones that can stick it out will do booming business though post lockdown.

[Riff888]

I guess for the last 18 months Australia has been the best place in the world to be in.
Safe, almost zero covid, and business as usual in most industries.
And the girls that stayed have been doing good business with the market cornered and without constant competition coming in from overseas.
This latest lockdown might be the tipping point for some though.
The ones that can stick it out will do booming business though post lockdown.I hope they can hold out.

Surprisingly they live quite humbly sharing rooms with up to 3 girls per room in the city paying about $90 a week.

They'll be loaded once they get back to Korea.

It's a good thing they can get their working holiday visas extended due to Covid but sucks they can't work or get welfare money.

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[dannyboy]

Sadly there will be many more as the months go on, many have already folded.

[aussiegaigin]

Kind of relevant here, that the customer base included "ladies of the night" LOL

[limbi8888]

They do have another restaurant at the Star

[cumquat]

Agree best in Sydney and in the early days before it got banned the drunken prawns.

gotcha the food. Not the punters

had been a fave late night food place

[Markin]

Golden Century administrator Desmond Teng tells me he's confident the iconic Sydney seafood haunt can be restructured and re-opened, possibly in a new location, once lockdowns ease. But confirms he had to "terminate" 60 staff with full entitlements

https://twitter.com/Peter_F_Ryan/status/1428503248344797184

[AHLUNGOR]

Not sure if the current owners of the GC are still the same group of people which include the boss of the old BBQ King on Goulburn St.

Up until end of 2019, Golden Century would have been the most successful and profitable restaurant in Chinatown if not all of Sydney. You would think they had bought the building right out already .

Anyway. They had plenty of money that’s for sure .

[Travelmate]

Not sure if the current owners of the GC are still the same group of people which include the boss of the old BBQ King on Goulburn St.

Up until end of 2019, Golden Century would have been the most successful and profitable restaurant in Chinatown if not all of Sydney. You would think they had bought the building right out already .

Anyway. They had plenty of money that’s for sure .

I have known the owner for a while.
In the current circumstance, most restaurant with large scale prefer shut door. You can always reopen again when the time is right.

Some successful businessman they don't mind losing face. Making profit is much more important.

I have been their customer since very old day when they are a little small restaurant next to old CAMPBO restaurant . Time flies.

[AHLUNGOR]

I have known the owner for a while.
In the current circumstance, most restaurant with large scale prefer shut door. You can always reopen again when the time is right.

Some successful businessman they don't mind losing face. Making profit is much more important.

I have been their customer since very old day when they are a little small restaurant next to old CAMPBO restaurant . Time flies.


Yeap, a real success story to say the least. Used to be one single shop on Sussex St, popular because they stayed open until early morning hours for 宵夜 late night supper. Then they expanded and took the shop next door and doubled the size. Then they moved to the current site with one floor and the rest was history, good on them.

Ps. Haha, 金堡餐廳！that was the good old days !

[aussiegaigin]

The article mentions something about the lease expiring, and going into administration is not the end of the world. There is the opportunity to restructure and reappear elsewhere in the future.

[Riff888]

I hope Spicy Joint and the malatang place on Dixon St survive.

The food court downstairs in Dixon House has completely shut down after the first lockdown.

Lots of BBQ and hotpot places can't do any business and malatang is not the same as takeaway.

But business will boom once we finally get over this once a for all.

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[dotcumdotinyou]

The owners of GC are multi millionaires, they even own their own patch of a vineyard in France and import the wine under their own label, so no doubt they'll be back after the lockdowns end. For them its a great way to clear all their debts and start again debt free, unlike others who have probably lost alot more.

[rooter]

The owners of GC are multi millionaires, they even own their own patch of a vineyard in France and import the wine under their own label, so no doubt they'll be back after the lockdowns end. For them its a great way to clear all their debts and start again debt free, unlike others who have probably lost alot more.

Exactly. It's a shame the Golden Century is closed because it is a Sydney icon.
But I wouldn't feel sorry for the owners.
They have been raking in the big profits for many years and good luck to them, they worked hard and provided great food and great times for Sydneysiders and tourists for many years.
And I am sure they will be back in some shape or form again after the lockdown.
There are many small businesses and sole traders and workers who are doing it much tougher

[GoldfishMan]

I hope Spicy Joint and the malatang place on Dixon St survive.

The food court downstairs in Dixon House has completely shut down after the first lockdown.

Lots of BBQ and hotpot places can't do any business and malatang is not the same as takeaway.

But business will boom once we finally get over this once a for all.

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Think you mean the malatang place on corner of Sussex & Liverpool. I loved that place not for the food, but for all the hotties that used to go there. They would always grab a seat at the windows and show off their lovely legs to passerbys. Amazing!
A bit of trivia if you're a fan: this malatang was sold by the original owners a year or 2 ago. After selling it, the owners opened another shop on George St along the block between World Square and Capitol Square. This new shop is actually rated higher than the OG shop now.

[Riff888]

Think you mean the malatang place on corner of Sussex & Liverpool. I loved that place not for the food, but for all the hotties that used to go there. They would always grab a seat at the windows and show off their lovely legs to passerbys. Amazing!
A bit of trivia if you're a fan: this malatang was sold by the original owners a year or 2 ago. After selling it, the owners opened another shop on George St along the block between World Square and Capitol Square. This new shop is actually rated higher than the OG shop now.That place on the corner is good but I've been going to Chungking Malatang on Dixon St since they opened late last year after the first lockdown.

It's the same chain as the one in Burwood I think.

They have more soup varieties, fresh ingredients and no minimum charge.

I really hope they survive, the owner is really nice.74485

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[tpol]

For gc, I thought the head chef was the most important person

[the_boss_king]

ill miss this place... i remember back in the days we'd go babylon then gc for a feed afterwards.... good times

[aussiegaigin]

Just heard on the news that GC's creditors had agreed to a scheme of arrangement to keep the restaurant trading.

[Philyum]

Just heard on the news that GC's creditors had agreed to a scheme of arrangement to keep the restaurant trading.

I hope it comes back. I miss this place

[aussiegaigin]

I see that Marigold is also closing its doors soon.

https://www.smh.com.au/national/nsw/sydney-yum-cha-restaurant-marigold-to-close-in-december-20211101-p5952x.html

[Riff888]

I see that Marigold is also closing its doors soon.

https://www.smh.com.au/national/nsw/sydney-yum-cha-restaurant-marigold-to-close-in-december-20211101-p5952x.htmlOh no, I have to get one more yum cha in.

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[ssfc]

Not many of the old school places left with bbq King, Golden century and now marigold gone. Only east ocean and emperors garden left.

[Riff888]

Not many of the old school places left with bbq King, Golden century and now marigold gone. Only east ocean and emperors garden left.Golden Century escaped, so they will be around.

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[rooter]

A mum with 3 kids selling street food on the streets of Saigon, Bangkok, Jakarta etc has probably gone broke too during covid.
That's business, that's capitalism, that's life.