The shock collapse of the Ku De Ta restaurant on the banks of the Swan River in East Perth has left unsecured creditors being owed more than $7.7 million, it can be revealed.

But all is not lost, with administrators confirming they had received proposals from outside parties showing interest in taking over the high-profile Point Fraser business.

KPMG’s Clinton Joseph will this Friday give creditors his second report into Ku De Ta Perth Pty Ltd and list options on the best chance to recoup some of their losses.

Despite the 1800sqm restaurant’s high-profile opening just over a year ago, administrators were called in earlier this month after staff walked out over unpaid salaries and holiday entitlements.

Camera Icon Administrators were brought into the luxury restaurant enclave of Ku De Ta on the Swan River. Credit: The West Australian

Executive chef Liam Atkinson led the walkout — which he described as the most difficult thing he has done in his career — after KPMG administrators told staff on July 6 they could not guarantee their wages would be paid in full.

Documents show that staff were owed more than $215,000 in unpaid annual leave, superannuation and wages, while a host of other businesses, small suppliers and big investors are owed sums ranging from $96 to $1.8 million. Investors in the business are also owed millions of dollars.

In his preliminary report, Mr Joseph also referred to a number of influences that forced the closure of the long-awaited restaurant.

He said there was a “cumulative effect of adverse factors” that the company, Ku De Ta Perth Pty Ltd, had also struggled with, including:

Competition from other restaurants in the point fraser complex.

Inability to attract customers in winter, and poor weather.

Lack of prominent signage and limited marketing.

New location being “tucked away” and not well known.

High cost of parking for customers.

It was semi-bankrolled by Bali hospitality king Guy Neale, the man behind the famous Indonesian cocktail hang-out of the same name, who tried to transplant the business model from Seminyak to the Swan.

The demise was the latest in a string of closures that have rocked WA’s fragile hospitality and tourism industry post-boom.

The Scarborough Beach Bar, the Trustee Bar and Grill, Chophouse, Matisse Beach Club, Gogo’s Madras Curry House and Restaurant Amuse have shut their doors in WA’s post-boom economy.