{"id":781727,"date":"2026-07-06T02:10:20","date_gmt":"2026-07-06T02:10:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/781727\/"},"modified":"2026-07-06T02:10:20","modified_gmt":"2026-07-06T02:10:20","slug":"seven-hobart-bars-to-close-as-owner-goes-into-voluntary-administration","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/781727\/","title":{"rendered":"Seven Hobart bars to close as owner goes into voluntary administration"},"content":{"rendered":"

The group managing some of Hobart’s most well-known pubs, including the Republic Bar, Jack Greene and Cargo, has entered voluntary administration with owners pointing to rising supply costs and changing consumer behaviour.<\/p>\n

Corporate finance and restructuring firm Apex Advisory will lead a sale process for the seven venues owned by Pub Banc Group and Hotel Banc Group, which employ more than 80 people in total.<\/p>\n

The venues will close while an urgent sale process is undertaken.<\/p>\n

The venues are:<\/p>\n

Cargo BarJack GreenePost Street SocialObservatory BarRepublic BarFranklin Wharf Restaurant & BarFranklin Wharf Function Centre<\/p>\n

“The purpose of the voluntary administration is to preserve the value of these businesses and move quickly to a sale or recapitalisation, with the aim of seeing the venues reopen under new ownership,” Apex Advisory managing director Tim Booker said.<\/p>\n

“Our objective is to protect jobs wherever possible, maximise the outcome for creditors and secure the long-term future of these venues for the Tasmanian community.”<\/p>\n

\"Heritage<\/p>\n

Cargo Bar and Jack Greene are among the venues that are up for sale. (ABC News: Ebony ten Broeke)<\/p>\n

\"The<\/p>\n

The Republic Bar is a North Hobart institution. (ABC News: Ebony ten Broeke)<\/p>\n

Staff have been informed this morning, while suppliers and creditors will be contacted in coming days.<\/p>\n

Mr Booker said he expected significant interest in the businesses, which it was hoped would reopen under new ownership.<\/p>\n

“These are iconic venues with strong brands, prime locations and loyal patronage, and assets of this quality rarely come to market.”<\/p>\n

\"A<\/p>\n

The Republic Bar is a popular live music venue. (ABC News: Ebony ten Broeke)<\/p>\n

\"A<\/p>\n

Pub Banc Group and Hotel Banc Group employ about 80 people across several venues. (ABC News: Ebony ten Broeke)<\/p>\n

Director of Pub Banc Group and Hotel Banc Group Ian Vaughan said the appointment of administrators was “deeply disappointing”, and that the business had faced “significant headwinds”.<\/p>\n

“Food and beverage input costs, utilities, insurance and other operating expenses have all continued to increase, many sharply, while at the same time consumer behaviour has changed,” Mr Vaughan said.<\/p>\n

“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.”<\/p>\n

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