The restaurant was known for its unique menu offerings. Credit: Greerascris / Shutterstock.

Popular Sydney-based fusion restaurant Warike will close on 14 September 2024 due to the escalating cost of living crisis, as reported by Daily Mail Online.

Located in Surry Hills, Sydney, 7News states that the restaurant has been known for its Peruvian-Japanese style and specialised dishes, including ceviche, oysters and kingfish.

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The closure news follows the departure of head chef Hector Chunga three months earlier, and the shutdown of its sister venue, Lima, a Nikkei restaurant in Walsh Bay.

Warike was jointly owned by Luis Guzman, Valeriya Finogeeva and Hector Chunga.

The owners wrote: “It’s with a bittersweet sentiment that we announce Warike’s final service will be on Saturday 14 September.

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“We’re immensely proud of our team and all our incredible accomplishments.

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“However, the proudest achievement of all is to have been a safe space for our team to come together, learn, grow and feel motivated to do their best.”

Melbourne pizza chain Pizza Bar has also entered administration after a decade of operation, as reported by the DailyMail.

Pizza Bar, with outlets in Strathmore and Diggers Rest in Melbourne’s northwest, has struggled due to the increased cost of living, which has adversely impacted restaurant trade and reduced demand for takeaway food.

The Strathmore location first opened in September 2014 and received a licence to serve alcohol in March 2017. The chain expanded with the opening of the Diggers Rest takeaway outlet in February 2021.

In December 2023, Japanese restaurant chain Okami put 16 of its Australian locations into voluntary administration.