Markets 
A chain of popular Brisbane sushi shops is in financial trouble, with external liquidators appointed to several companies controlled by its owner.
Mitsuki Sushi opened its first shop on George Street in May 2021. It then went on to open a further three shops around the CBD and a Fortitude Valley restaurant in the next four years.
But liquidators were this month appointed to four companies linked to the shops, while the same administrators – from Sydney firm Balance Insolvency – were last week appointed to restructure the company running the Valley restaurant.
Mitsuki is owned by Chieng-Teng Kao, with the Valley restaurant company registered to a home in Jindalee.
Opening in January 2025, the restaurant offered a full-scale menu as well as a sushi train, complete with a robot waiter.
It followed Mitsuki’s rapid expansion in the city, with a large shop opening on Ann Street in April 2023, followed by two more on Adelaide Street – one in September and another in October that same year.
The CBD outlets proved popular for an easy lunch, with long lines and a wider range of options than other vendors such as Sushi Hub.
But 18 months after Kao opened the doors to the Valley venue, the businesses look like they’re in trouble.
Kao was contacted for comment but did not respond.
Balance Insolvency was also contacted.
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