By JOLENE OGLE
JIM Berardo has confirmed the Noosa Food and Wine Festival will return next year and he believes local restaurants will be back thanks to new payment arrangements.
Mr Berardo beat six other companies who bid to buy the premier food festival’s intellectual property, only three months after the company went into voluntary receivership on 29 May.
The restauranteur still owes outstanding creditors about $300,000, but Mr Berardo said he would repay creditors privately “over time”.
“I’ve contacted most of the creditors, but we’re still chasing some invoices,” he said.
“I know the creditors are small businesses and this would have affected them.”
For the 2016 festival, which is expected to run from 19 to 22 May, Mr Berardo said businesses would be paid directly from The J and steps were being taken to prevent rain impacting the event.
“A combination of things resulted in the company going into receivership,” he said. “Berardo’s Restaurant and Bar was running at a loss so I had to close it.”
Mr Berardo said rain also affected the festival for the second year in a row, impacting day ticket sales and expenditure at the event.
While the past three months have been a stressful time for Mr Berardo, he said he believed the 2016 Noosa Food and Wine Festival would pick up where it left off last year, with major sponsors tipped to stay on board for the coming years.
“I want to keep the momentum going,” he said. “I know this event means a lot to the local culinary industry.”
Mr Berardo said, given the new payment arrangements, he didn’t see any reason why local restaurants wouldn’t return to the festival.
“There’s no reason not to come back,” he said.
