Second restaurant linked to MasterChef star Reynold Poernomo’s enters administration just months after trendy cocktail bar folds

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As a devoted admirer, I’m saddened to share that the KOI Dessert Bar in Melbourne, a cherished establishment brought to life by MasterChef sensation Reynold Poernomo and his esteemed brothers, has recently sought voluntary administration, barely over a year after its grand opening.

In July 2024, The Queen & Collins venue made its debut, offering a 42-seat dining area, an upscale pastry shop, and impressive dessert art installations.

It marked KOI’s first expansion outside Sydney, where the brand has two outlets.

According to administrative records, Poernomo Enterprise, the parent company of the Melbourne operation, is in debt to various creditors for over $1.6 million. A significant portion of this debt is owed to related entities such as family members and associated businesses.

The brother of the managing director at KOI Dessert Bar, named Ronald, informed News Corp that the business would remain operational throughout the administration proceedings.

The KOI Dessert Bar is now searching for a new, authorized vendor to manage their Melbourne store, as part of our dedication to maintain the quality and prestige associated with the KOI brand,” he explained.

‘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.  

He also mentioned that they would explore other possible ways to maintain KOI’s presence in Melbourne with the administrator, honestly and sincerely.

Ronald has ensured that every creditor, which includes his team and suppliers, have received their payments in full, leaving no outstanding debts.

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, the Japanese-themed establishment known as Monkey’s Corner, which was established by Reynold along with his siblings Arnold and Ronald, was forced to cease operations due to financial difficulties.

The restaurant had actually closed in March 2024 after seven years in operation.

As a dedicated devotee gushing over every detail, I’d say it like this: From the papers submitted to the Australian Securities and Investments Commission (ASIC), it’s clear as day that our beloved company is currently grappling with an eye-popping sum of over half a million dollars in outstanding debts. Quite a financial conundrum, wouldn’t you agree?

At the moment the place was shut down, the group posted on social media suggesting possible upcoming changes for the location, expressing they were working on something fresh.

However, no new venue operated by a Poernomo opened in the space.

It wasn’t advised that Reynold bore any financial, legal, or managerial obligations regarding Monkey’s Corner.

The collapse occurred after Art Plate Pty Ltd, a different enterprise belonging to the Poernomo family, underwent a restructuring process in 2024.

Art Plate along with another company, JRP Desserts Pty Ltd, oversees KOI Dessert Bars.

In these companies, Ronald (Reynold’s oldest brother) and Ike Malada (their mother) serve as the directors, whereas Reynold is the public figure representing the business.

Reynold Poernomo is not a director of any of the companies mentioned in this article.

His website states he co-founded KOI Desserts Bars and Monkey’s Corner. 

As a die-hard enthusiast, I can’t help but gush about my beloved culinary journey! Back in the seventh season of MasterChef Australia, I was one of the fortunate few who got to strut my stuff on the cooking stage. Although I didn’t manage to snag the top spot and became a fourth-place finalist instead, it was an unforgettable experience that has forever cemented Reynold in my heart as a true gastronomic maestro!

In 2020, he returned to his character in the twelfth season of the Channel Ten series, even managing to secure a third-place ranking, surpassing his previous achievements.

Afterwards, he made another attempt, competing in the inaugural season of Dessert Masters Australia, which premiered in 2023.

Victory was not to be however, with Reynold named as runner up behind winner Gareth Whitton.

As a die-hard admirer, let me tell you that after his recent loss, Reynold poured out his heart on Instagram, expressing his deep sorrow. He confessed that despite all the culinary masterpieces he’s created, he’s yet to receive an award for his dishes or even a review.

Accompanying a collection of images showing him diligently preparing an array of scrumptious pastries in the kitchen, he penned a poignant message.

Though I didn’t take first place, I walk with pride. Unfortunately, the two most exceptional desserts I’ve created for Experiential weren’t tonight’s top picks,” he started.

He expressed his excitement about potentially being honored with an award for the delectable desserts he meticulously prepare in the kitchen.

It’s been tough to capture the notice of Australian food media thus far. Over a span of eight years without any reviews or awards, he admitted.

I decided to return and once again expose myself to public view, also seeking opportunities to compete with my peers and push myself beyond my limits.

I’m deeply grateful for this opportunity and feel a strong sense of pride as a self-taught chef. Once again, I want to express my heartfelt thanks to everyone.

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2025-08-15 08:35