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.
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.
The venues will close while an urgent sale process is undertaken.
The venues are:
- Cargo Bar
- Jack Greene
- Post Street Social
- Observatory Bar
- Republic Bar
- Franklin Wharf Restaurant & Bar
- Franklin Wharf Function Centre
“The purpose of the voluntary administration is to preserve the value of these businesses and move quickly to a sale or…