Award-winning chef Nic Watt has closed his second restaurant, Cāntīng, less than two years after it opened.
Cāntīng, a smart casual, upmarket modern Chinese, Asian restaurant and bar, opened its doors at Commercial Bay in late November 2024. Its aim was to blend the richness of an Asian dining experience with a harmonious fusion of tradition and innovation.
While the menu was broadly Chinese, it also transcended traditional boundaries to various other cuisines within the culinary landscape of Asia.
Chef Nic Watt, who had found prior success with his restaurants Inca and Masco, said that the announcement that Cāntīng would be placed into voluntary liquidation was incredibly difficult.
“We have worked tirelessly over a prolonged period to adapt the business, test new approaches and improve trading, but the reality is the environment has remained exceptionally challenging,” said Watt.
“I’m devastated to be at this point; however, the reality is the business is no longer viable, and we’ve had to make this tough decision. My priority is supporting our amazing team and working with the appointed liquidators as we move through the process.”
Cāntīng currently employs 19 staff, all of whom were informed of the closure. Watt said that all wages and leave entitlements had been paid in full before the liquidation.
“I met with our team this morning to inform them of the closure, following our final service last night. My focus now is on supporting them, helping them find new roles, and working constructively through the formal process with the liquidator.”
This closure has marked the second of Watt’s restaurants in the past three years. His Newmarket restaurant INCA closed in late 2023, which was shrouded by accusations from staff for being underpaid.
Despite taking every practicable measure available to improve trading performance, Watt said a combination of reduced discretionary spending, rising operating costs and ongoing economic uncertainty has continued to impact customer demand and the overall viability of the restaurant.
“While there were periods where we believed market conditions may improve, those improvements proved temporary and have since been offset by broader economic uncertainty, with rising fuel and living costs, increasing supplier pricing, and continued pressure on household spending. These factors have had a direct impact on customer visitation and average spend across the sector and Cāntīng.”
Liquidator Damien Grant from Waterstone Insolvency has been appointed to manage the process and will work with creditors as part of the next steps.
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