Popular Gold Coast venue the Two Palms Restaurant and Bar has shut up shop after two decades in business.
Restaurant owner Vincent* told 7NEWS.com.au the venue was part of the Broadbeach hospitality landscape for over 20 years.
“Unfortunately, it was with a very heavy heart that we made the extremely difficult decision to permanently close the restaurant and place it into liquidation,” he said.
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The Broadbeach institution was well known for its beachside alfresco dining and seafood dishes.
However, the popular business entered liquidation on August 3, ASIC records show.
Jason Bettles and James Robba were appointed as joint liquidators.
Vincent, who purchased the restaurant four years ago, right before the pandemic, says he has faced an array of challenges.
“COVID and the subsequent problems it brought have played a role in this decision however this was not the only consideration,” he said.
Vincent also cited the rising costs of living, staffing issues and property maintenance issues as also playing a significant role in the business closing.
“Since re-opening after the COVID closure I have worked tirelessly to again make the business profitable … I have worked up to 16 hours every day we were open,” he said.
The restaurant had boasted many glowing reviews from locals and tourists alike.
“This is our go-to restaurant, because we know the meals are always delicious, reasonably priced, and the service is always great,” one woman said.
“Good food and good service … we were very happy with everything, and I’m struggling to see how this place is not busier,” another added.
The restaurant’s last day of trading was July 24.
* Last name withheld.
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