Leading Tasmanian hospitality group Pub Banc Group and Hotel Banc Group (Pub Banc), which operates seven venues across Hobart, has entered voluntary administration, with Adam Johnston of Apex Advisory appointed to manage the process.
Pub Banc’s venues include Cargo Bar, Jack Greene, Post Street Social, Observatory Bar, Republic Bar, Franklin Wharf Restaurant & Bar and Franklin Wharf Function Centre. The group employs more than 80 staff, while an extensive network of Tasmanian suppliers has also been impacted.
The appointment follows a prolonged period of difficult trading conditions for the hospitality sector, with rising food and beverage costs, higher utility and insurance expenses,…