Sydney-based New Zealand chef Justin North has placed his North Group of restaurants into voluntary administration.
North told Sydney's The Daily Telegraph that the company had expanded massively in the past 18 months.
"At the moment, it is run by basically myself and Georgia, three companies, eight different venues and 180 staff and 200 suppliers. "That's just way too big to continue where we are in this climate, so we just have to put in the controls ... so this doesn't happen again and we can trade successfully."
Restaurants in the group include Becasse, Quarter Twenty One, Becasse Bakery, Quarter Twenty One Providore, Charlie & Co, The Cookery School, Le Grand Cafe and Etch.
Mr North said "it's going to be business as usual" and it was too early to tell if any of his venues will close.