Rising expenses and cost-of-living tightening of purse strings have been blamed for the immediate closure of seven pubs and clubs in one capital city.
The group managing the Hobart venues announced on Monday it was entering voluntary administration and an urgent sale process to find new buyers had been launched.
More than 80 people who work at the establishments, six of which are situated on the city’s popular waterfront, have been stood down.
Among the closures include the Observatory Bar, dubbed Hobart’s biggest nightclub, and live music hotspot the Republic Bar in the city’s northern suburbs.