Mike McEnearney’s No.1 Bent Street is in administration

No.1 Bent Street. Image source: @1bentst via Instagram

Mike McEnearney’s Sydney restaurant No.1 Bent Street has gone into administration.

Creditors are meeting today to decide the business's fate, but speaking to Good Food, McEnearney said he's hopeful they will find a way to keep the restaurant alive.

Until a decision is made, No.1 Bent Street will continue trading until December 22, with plans to reopen in January.

McEnearney says construction in the area is partly to blame for the acclaimed restaurant's financial hardship.

"It started with the light rail, then Barangaroo sucked a lot of people away. We've had 17 buildings knocked down which has impacted the sheer body mass in the area," he told Good Food.

Earlier this year No.1 Bent Street was ranked 80th in the country in the 2019 Gourmet Traveller Australian Restaurant Guide, but McEnearney says "People aren't looking for an expensive lunch in the city anymore."

McEnearney also owns Kitchen by Mike at Sydney airport and is Carriageworks Farmers Market's creative director – neither of which will be affected.