Calombaris bankruptcy everybody else’s fault

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Poor George. At the AFR:

The hospitality sector is blaming the Fair Work Ombudsman’s “name and shame” campaign for driving the collapse of George Calombaris’ restaurant empire with warnings more jobs are at risk.

Administrator Craig Shepard said the $7.8 million wages underpayment scandal was a big factor in the collapse with the number of diners “50 per cent down on where they were expected to be” in the wake of the scandal.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.