EXCLUSIVE: The Hi-Fi Bar Venues Enter Administration

All three east coast The Hi-Fi venues have entered administration this week, with the future of the venue chain placed into doubt as a result.

Corporate registry documents obtained from ASIC by theMusic.com.au show that the Brisbane, Sydney and Melbourne arms of the Melbourne-based company were placed into external administration yesterday. The Melbourne Swanston St venue has been an institution of the scene for just under two decades and in 2009 the group built on the success of that room to launch a Brisbane venue. In 2012 they refurbished Sydney’s Forum Theatre to become the third room in the east-coast chain.

A source with knowledge of the matter told theMusic.com.au today, “The reason the company has been put into administration is due to a dispute between The Hi-Fi Group and the major creditor. As no resolution could be achieved between the two parties, the main creditor has placed the venues into external administration.

“As a result, the creditor has taken over the running of the venues and it will be business as usual for the foreseeable future.”

With the business being run by an administrator, theMusic.com.au understands that current head office staff will be relieved of immediate duties.

The administrator is Simon Patrick Nelson of the Romanis Cant firm.

All three venues have gigs booked up to as far as June. Seth Sentry, 65daysofstatic, A$AP Ferg, Sticky Fingers, Blackstreet, Architects, The Smith Street Band, New Found Glory, The Beards and Psycroptic are amongst the artists currently booked.

TheMusic.com.au has been informed that a respected, original member of The Hi-Fi team will be staying on to ensure that it's business as usual and all gigs run smoothly.

See the full details for the Melbourne, Brisbane and Sydney gigs here.