Creditors of Bill Ferg's Lobster Cave face total loss as rescue bid stalls

Creditors of Bill Ferg's Lobster Cave face total loss as rescue bid stalls

Creditors of Melbourne’s iconic seafood venue The Lobster Cave have been warned they are unlikely to recover any of the millions owed, as efforts to find a buyer for the collapsed business falter. Administrator Stephen Dixon of Hamilton Murphy Advisory told The Herald Sun that unsecured creditors, owed over $2.8 million, are likely to receive no return if the company is liquidated. The Beaumaris restaurant, which entered administration in May, o…