King Street Gourmet Retailer Mercado Has Closed

Mercado has closed after investors withdrew financial support, the Courier Mail reports.

A sign in the window of the King Street gourmet retailer says the closure is temporary but a source told the Courier that the business is expected to go into administration next week, and the paper has seen copies of demands for overdue payments for supplies and payroll tax.

When unveiled by owner Tony Nguyen in early November Mercado was being positioned as a 1500-square-metre answer to Harrods Food Hall in London and Italy’s Eataly.

The closure means the business lasted barely six months.