George Calombaris' food empire is off the menu: MasterChef star's last remaining business is snapped up by Boost Juice founder's entrepreneur sons
- George Calombaris' 13 year reign as a restaurant mogul has come to an end
- The celebrity chef has sold his final food business Yo Chi frozen yoghurt
- The dessert bar will be taken over be two entrepreneurs in their 20s
- New owners Oliver and Riley Allis are the sons of Boost Juice founder Janine Allis
Celebrity chef George Calombaris (pictured) has waved goodbye to his career as a high-flying restaurant mogul with the sale of his final food business
Celebrity chef George Calombaris has waved goodbye to his career as a high-flying restaurant mogul with the sale of his last food business.
The former MasterChef host has sold the up-market Yo Chi frozen yoghurt chain he owned with former Swisse vitamins boss Radek Sali.
The franchise was bought by two entrepreneurs in their 20s, who are the sons of Boost Juice founder Janine Allis.
The sale signals the full collapse of his restaurant empire which was made up of 18 venues across Melbourne including the Press Club, Gazi and Hellenic Republic.
Made Establishment folded in February with just a pitiful $389 in the bank and owing $22million to creditors.
Yo Chi frozen yoghurt operates four stores in the Melbourne suburbs of Balaclava, Carlton, Hawthorn and Malvern.
The former MasterChef host has sold the up-market Yo Chi frozen yoghurt chain he owned with former Swisse vitamins boss Radek Sali (Pictured: George Calombaris and his wife Natalie Tricarico)
Yo Chi Frozen yoghurt operates four stores in Melbourne suburbs Balaclava, Carlton, Hawthorn and Malvern
The upmarket dessert bar was the only business in the group that wasn't placed into voluntary administration.
Proceeds from the sale will go straight to the Commonwealth Bank which is owed $8.5million after the collapse of the restaurant empire, The Age reported.
The new owners are the two sons of Boost Juice founder Janine Allis - Oliver Allis, 23 and Riley Allis, 20.
Corporate records show a company owned by the two called Embrace the Chi took over the website domain registration and trademarks for Yo Chi in late May.
The takeover appears to be the first foray into business for the children of hospitality queen Janine Allis.
The new owners are the two sons of Boost Juice founder Janine Allis, Oliver Allis, 23 and Riley Allis 20
Corporate records show 'Embrace the Chi' took over the website domain registration and trademarks for Yo Chi (pictured) in late May
She is one of the most successful women in the food and beverage sector after launching Boost Juice in 2000.
The chain now spans 14 nations with more than 550 shop fronts.
The takeover signals the end of the George Calombaris' time on top as restaurant mogul, after 13 years forging his name as an industry leader in Australia.
It only took 12 months for it all to come crumbling down after reports emerged in July last year he had underpaid hundreds of workers by nearly $8million.
Daily Mail Australia has contacted George Calombaris' management for comment.
The Melbourne-based restaurant empire, founded by Calombaris, operated 18 venues including the Press Club, Gazi and Hellenic Republic (pictured)
