Where did it all go wrong for Berardo's business?
RAY and Judy Painter owned four Noosa restaurants over 35 years including Raymondo's Pizza and Pasta on Thomas St, Kebabylon in Tewantin and Casa Ronaldo at Noosa Junction in the 1970s.
Passionate about the future of Noosa's celebrated food and wine industry, the Painters have called on Jim Berardo to explain what went so wrong with his company that his friends in the industry had to be left out of pocket.
A number of local businesses who supplied the Noosa International Food and Wine Festival and Berardo's Restaurant and Bar have contacted the Daily seeking an answer to the same question.
Mr Berardo has long been the face of Noosa's popular food and wine festival, and made a huge contribution to lifting the profile of the region.
Mr Painter said it made no sense that Mr Berardo would only realise the company was in trouble after the 2015 festival had come to an end.
Mr Painter said hospitality was a challenging business, and his restaurants had only survived two recessions by being very creative and thrifty.
In the years following the 1987 stock market crash, fine dining restaurants in Noosa also had to be very imaginative to stay afloat, he said.
"If you're not making money you need to change to what people want and get those people through the door," he said.
"I can remember one five-star restaurant who changed their menu and only sold tapas - nothing more than $7."
To the Painters the matter of unpaid creditors was painful on a personal level as friends in the hospitality industry had racked up a significant loss when their business contributed to the festival.
Mrs Painter said her friends had worked overtime to prepare food for the festival.