Melbourne’s KOI Dessert Bar, founded by MasterChef star Reynold Poernomo and his brothers, has entered voluntary administration little more than a year after opening its doors.
The Queen & Collins venue launched in July 2024 with a 42-seat dining room, retail patisserie, and high-end dessert sculptures.
It marked KOI’s first expansion outside Sydney, where the brand has two outlets.
Administrator reports show the Melbourne operation’s parent company, Poernomo Enterprise, owes creditors more than $1.6 million, much of it to related parties including family members and affiliated businesses.
Managing director of KOI Dessert Bar, Reynold’s brother Ronald, told News Corp that the establishment was continuing to trade during the administration process.
‘KOI Dessert Bar has since begun the process of seeking a new licensed retailer to take over the Melbourne location, in line with our commitment to uphold the quality and reputation of the KOI brand,’ he said.
Melbourne ‘s KOI Dessert Bar, founded by MasterChef star Reynold Poernomo (pictured) and his brothers, has entered voluntary administration little more than a year after opening its doors
‘The site is currently under the control of an administrator, who has listed it as a potential franchise opportunity,’ he said, noting that this is a ‘common commercial strategy’ used to attract buyers.
‘The viability of other alternative options to preserve KOI’s presence in Melbourne will also be discussed with the administrator in good faith,’ he added.
Ronald assured that all creditors, including staff and suppliers, have been paid in full, with nothing owing.
KOI’s Sydney operations in Ryde and Chippendale remain open and unaffected.
It’s not the first blow to the Poernomo hospitality empire this year.
In May, a Japanese-inspired bar called Monkey’s Corner – opened by Reynold and his brothers Arnold and Ronald – was also placed into liquidation.
The restaurant had actually closed in March 2024 after seven years in operation.
According to documents filed with the Australian Securities and Investments Commission (ASIC), the company owed more than $500,000 in outstanding debts.
Administrator reports show the Melbourne operation’s parent company, Poernomo Enterprise, owes creditors more than $1.6 million, much of it to related parties including family members and affiliated businesses
At the time of the closure, the team shared a message on social media hinting at future plans for the site, writing they were ‘cooking up something new.’
However, no new venue operated by a Poernomo opened in the space.
It is not suggested Reynold held financial, legal or operational responsibility for Monkey’s Corner.
The collapse followed the restructure of another separate Poernomo family business, Art Plate Pty Ltd, in 2024.
Art Plate, along with another company, JRP Desserts Pty Ltd, oversees KOI Dessert Bars.
Reynold’s eldest brother Ronald and mother Ike Malada are listed as directors of those companies, while Reynold is associated as the face of the business.
Reynold Poernomo is not a director of any of the companies mentioned in this article.
His website states he co-founded KOI Dessert Bars and Monkey’s Corner.
Monkey’s Corner (pictured) was permanently closed down in March of 2024
Reynold shot to fame as a contestant on the seventh season of MasterChef Australia, finishing fourth
Reynold shot to fame as a contestant on the seventh season of MasterChef Australia, finishing fourth.
He reprised his role on in the Channel Ten series’ 12th season in 2020, going one better with a third place berth.
He then tried his luck a third time, in the first season of spinoff Dessert Masters Australia in 2023.
Victory was not to be, however, with Reynold named as runner-up behind winner Gareth Whitton.
Following his defeat, Reynold took to Instagram to share his disappointment and said he was devastated he had never received an award for his culinary delights, or even been reviewed.
Alongside a gallery of photos of him hard at work in the kitchen, creating a variety of delicious pastry desserts, he wrote a heartbreaking caption.
‘Although I may not have won, my head is still held high. My two best desserts I’ve ever done for Experiential may not have been the best for tonight,’ he began.
He added he was eager to one day receive an award for the delicious desserts he spends hours in the kitchen making.
‘It has been quite challenging to even gain the attention of the food media in Australia. Going eight years of never being reviewed or winning an award, he said.
‘It’s the reason why I’ve chosen to come back on and put myself out there for the world to see as well as challenge myself amongst peers.
‘I am incredibly thankful for the opportunity and hold great pride being a self-taught chef, so once again thank you all.’