Cara & Co, the luxe Sydney concept store and restaurant that marries Belgian gastronomy with fashion and accessories, is under voluntary administration.
It is a further blow to Westfield Sydney, which has already seen upmarket restaurants Becasse and Spiedo depart.
A spokesman for administrator Bernardi Martin confirmed it had been appointed and Cara & Co remains trading. Cara & Co's restaurant opened with a splash in August 2011, with chef David De Belder from Antwerp restaurant De Godevaart responsible for the cuisine.
Good Food critic Terry Durack described the lush restaurant as looking like a "1970s disco, complete with catwalk ramp".