The debts of the bankrupt Sushi Bay chain, which operated 13 restaurants across NSW, the Northern Territory, and the ACT, have now reached over $21 million.
It was reported last year that the company had gone into liquidation.
The Taxation Department started winding up the operations of the Sushi Bay chain after it failed to settle its tax debts.
The agency also pursued the company’s sole director and owner over allegations that they had underpaid their employees.
The FairWork Ombudsman had also been pursuing the company for breaches of the Act.
The FWO secured record-breaking penalties against the Sushi Bay restaurants earlier this month.
When combined with the company’s previous debts, the total amount owing by the collapsed chain now stands at over $21 million.
The remaining Sushi Bay locations have been closed. The only one remaining branch in Sydney is at Campbelltown’s Macarthur Square.
During its peak, the chain had outlets in various areas such as Miranda, Rhodes, Parramatta, Carlingford, and Rouse Hill.
The company had also had multiple locations outside Sydney, such as Forster and Shellharbour.
In an update to its creditors, Mr Palmer noted that the company’s sole director, Yi Jeong Shin, had not responded to a demand for $1.449 million.
In 2017, Ms Shin sold her property in Sydney’s Ryde for $4.9 million.
Mr Palmer noted that it was possible that she could have used the property as collateral for her debts.