New ‘Queen of the Cross’ Christina Jaucian sees her nightclub empire collapse with debts of $400,000 as she blames her old boss – but she’s still bought herself a ‘perfect’ new car

The new Queen of the Cross’s nightclub empire has collapsed and owes almost $400,000, less than two years after she was hailed as the savior who revived Sydney’s nightlife.

Christina Jaucian, 46, took over Kings Cross venues Chicane and KX Social in April 2023, promising to bring back the glory days killed by the lockout laws.

The venues in Sydney’s once infamous King’s Cross had gone bankrupt under previous owner Ussi Moniz Da Silva, who is said to have fled to Bali owing more than $7 million to creditors.

Ms Jaucian promised to create two “safe” and stylish nightclubs that would “be operating at full capacity within a few months”, next to the nearby trendy Levant restaurant.

But now the parent company of all three sites, 24 Bayswater Pty Ltd, has gone bankrupt and owes almost $380,000 to suppliers and staff.

The nearby Eros restaurant, run by her husband, Lance Alaalatoa, also appears to have gone out of business.

Despite this, Ms Jaucian appears to have found the money to buy a new car after a rumored move interstate.

In a glowing review left four weeks ago by a ‘Christina Jaucian’ for Ausloans Finance Group, based near the Gold Coast, an employee was praised for being ‘an absolute pleasure to deal with!’

“He took care of all our concerns and found the perfect car for us,” Ms. Jaucian said.

‘The whole experience was seamless, fast and headache-free. We wouldn’t go anywhere else!’

The same Google account has left a number of previous reviews of various restaurants and nightclubs in Sydney.

These include a five-star review for Chicane nightclub, which was abandoned a year ago, and another glowing five-star review for Maali, Chicane’s previous name.

Trustee Stephen Dixon’s report, obtained by Daily Mail Australia, revealed Ms Jaucian blames the demise of her nightclub empire on previous owner Mr Da Silva.

“The director has indicated that the primary reason for the failure of the companies was due to disputes with the previous owner of the companies,” Mr. Dixon wrote.

‘According to the director, the previous owner was not in favor of the director taking over and operating the businesses, leading to incidents of vandalism, damage to equipment and rumors of criminal activity.

‘These problems led to serious financial losses and negative publicity for the company, ultimately leading to a decline in customer numbers.

‘The director has also attributed financial difficulties to the unfavorable lease agreement for the Company’s commercial premises, which included a high rent and a monthly rent.’

While Mr Dixon acknowledged that the reasons given were “likely to be significant factors leading to the company’s financial difficulties”, he also blamed poor cash flow, poor management and a lack of working capital.

He found that ten staff were owed a total of $90,707 in unpaid wages, leave and super costs.

Three creditors owed more than $45,000, while unsecured creditors owed more than $210,000.

AGL also owed more than $42,000 in unpaid utility bills.

Mr Dixon was also unable to analyze the company’s books because Ms Jaucian claimed she had lost access to the electronic documents.

Until access is obtained, Mr Dixon said he could not comment on whether there was a case for bringing a claim against Ms Jaucian for insolvent trading.

Insolvent trading occurs when a company takes on new debt while it cannot pay its existing debt. This is illegal in Australia.

Mr. Dixon also “identified multiple payments totaling $26,340 that may be non-commercial.”

“The payments were for rent and utilities for the principal’s (Ms. Jaucian) personal residence,” he wrote.

Mr Dixon said the transactions ‘warrant further investigation to determine the likelihood of recovery’.

He added: “My investigation into the company’s affairs has revealed multiple payments to the director, unlabeled and unreferenced, totaling $4,386.

‘There were several other transactions with the director that were classified as payment of wages.

‘Further investigation into this is required before I can assess the significance of the transaction and determine whether it is uncommercial and unreasonable.’

He also requested the freezing of five of the company’s bank accounts at ANZ even though they had “negative or zero balances”.

Attempts have been made to contact Ms Jaucian for comment.

Eros, run by her husband, was ordered to close for 60 hours by the NSW Independent Liquor & Gaming Authority in March 2023 after police received a credible threat that motorcycle gangs would storm the city.

A source with knowledge of the frightening situation told Daily Mail Australia at the time: ‘Kings Cross is not a safe place at the moment, tensions are rising… war is imminent.’