Popular Aussie restaurant loved by the rich and famous quietly shuts after racking up $1.4million debt: ‘This one hurts’

A popular Italian restaurant frequented by the rich and famous has quietly shut its doors after reportedly racking up a $1.4million debt in its wake.

Machiavelli Ristorante Italiano in Sydney’s CBD announced in mid-December that it would be re-opening on Saturday, January 17 after a ‘short seasonal break’. 

However, the iconic restaurant – a go-to hotspot for billionaires, media tycoons and politicians – has remained closed since its final service on December 23.

Diners have been unable to make any reservations online and the restaurant’s phone line has been disconnected.

The 37-year-old restaurant, established in 1988, was placed into administration just before Christmas after accumulating a $1.4 million debt, according to The Daily Telegraph.

The owners have yet to speak out, leaving the restaurant’s future unclear.

Loyal customers have expressed their devastation over the restaurant’s abrupt closure – just six months after celebrating 37 years of operation. 

‘This one hurts.⁣ I was genuinely saddened to learn that Machiavelli Ristorante has been placed into administration. A true Sydney institution, and for so many people, the place for classic Italian done properly,’ a diner said. 

‘Machiavelli remains one of my favourite venues in Sydney. The room, the food, the legacy – it all mattered. It still matters. I truly hope this isn’t the end, but instead a pause… and that this iconic restaurant is saved and reborn for a new generation of diners who deserve to experience it.⁣

‘Some places are more than businesses. They’re part of a city’s soul.⁣’

Many were shocked by the ‘horrendous’ news, with one sharing: ‘Nooooo! I had many phenomenal lunches here. No words! An incredible Sydney institution.’

‘The restaurant was still going strong with many reservations. Very sad,’ another said.

‘So sad,’ one added.

Over the years, Machiavelli has divided customers with the portraits of celebrities, businessmen and politicians that hang on its walls.

‘One of the best Italian restaurants in Sydney. However, don’t really understand the decoration in the restaurant with all the photos hanging there, I think that was a bit weird,’ one suggested.

‘I like the underground atmosphere in the middle of the city, with portraits of politicians adorning the walls… The food is top-notch, the service is spirited, and the wine selection is also good. Great for business lunches and dinners,’ another said.

‘The atmosphere is surrounded by famous celebrity portraits of businessmen and politicians. Lots of deals are made in this underground restaurant,’ one added.

‘The restaurant has its walls covered in photos of politicians and celebrities, creating an oddly mismatched atmosphere for what is otherwise a high-end Italian dining experience,’ another revealed.

The restaurant has been popular among diners, earning a stellar 4.5 stars out of 5.

‘I can’t believe I have never dined here before! Old school Italian at its best. Hidden away on Clarence Street, you walk in to friendly and attentive waitstaff, delicious nibbles to start and a gorgeous understated venue,’ one customer raved.

‘This is the best Italian restaurant in Sydney city. Tastiest authentic food we have ever had and my husband is from Italy so he would know. The most amazing seafood risotto and ravioli. Service is impressive along with the atmosphere,’ another added.

‘This is the original and the best Italian restaurant in Sydney’s CBD. It’s been my absolute favourite restaurant since I first came there in 1997. The food is always the same, big beautiful portions. Wine list is amazing as are the staff,’ one shared.