The company behind the popular Pinot & Picasso studios has collapsed into voluntary administration.
Veuve Ventures Pty Ltd, which owns seven Pinot & Picasso studios around Australia, had administrators appointed last Thursday.
The collapse has resulted in seven workers being made redundant.
The other 42 Pinot & Picasso franchises around Australia and New Zealand are independently owned and are not impacted by the administration.
The paint and sip studios have boomed in recent years, allowing customers to be guided through an art course while enjoying a glass of wine.
Sessions run from between two to three hours, with customers paying about $65.
Sule Arnautovic from Salea Advisory has been appointed administrator and said there were 16 full-time and 41 casual staff employed at the studios impacted.
Veuve Ventures directors attributed the collapse to ‘a reduction in discretionary consumer spending, as Australians and other customers look to tighten entertainment budgets’, Salea Advisory said.
