One of Hobart’s most revered live music institutions, the Republic Bar, is among seven venues set to close their doors as the hospitality group that owns them has entered voluntary administration.
ABC reports that Pub Banc Group and Hotel Banc Group, which manage some of the best-known entertainment and hospitality venues in Hobart, have brought in administrators from Apex Advisory. The administrators are currently examining the group’s operations, and while undertaking an “urgent sale process,” the venues will close their doors.
Venues impacted by the administration process and closures include the Republic Bar, Observatory Bar, Cargo Bar, Post Street Social, Franklin Wharf Restaurant & Bar, Jack Greene, and the Franklin Wharf Function Centre.
The Republic Bar has hosted thousands of gigs from artists including Phil Jamieson, The Delta Riggs, Jebediah, Urthboy, Northeast Party House, Horrorshow, San Cisco, Gordi, Regurgitator, Alex The Astronaut, Camp Cope, Holy Holy, Sampa The Great, and many others.
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In a statement posted on social media, the Republic Bar team discussed the news that Pub Banc Group and Hotel Banc Group had entered voluntary administration, resulting in their immediate closure.
“We are deeply sorry to inform you that, effective immediately, we are unable to host any upcoming reservations, private functions, or scheduled events,” they shared.
They continued, “We understand the massive impact this has on your plans—especially for those who have trusted us with milestone celebrations, weddings, and corporate gatherings. Please know that this situation is entirely beyond our control, and we are devastated to be delivering this news to you so abruptly.”
The venue is currently working to clarify “the exact process” for what happens to pre-paid bookings, function deposits, and event cancellations.
“Thank you for your patronage, your support over the years, and your understanding during this incredibly challenging time for our business and our team,” the venue concluded.
Ian Vaughan, the Director of Pub Banc Group and Hotel Banc Group, told the ABC that the appointment of Apex Advisory was “deeply disappointing” and detailed the difficulties the businesses have faced in recent times, including increased operating and insurance expenses, as consumer behaviours have changed.
“Today, our thoughts are primarily with our employees, many of whom have dedicated years of service and helped create the welcoming experiences for which our venues are known,” Vaughan said.
