According to a statement from Melbourne-based parent Hi-Fi Group, a dispute with an unidentified major creditor “could not be resolved.” “The creditor as a result put the business into voluntary administration. However, it’s business as usual in all three venues,” the statement continued.
Administrator Simon Nelson, from Melbourne accounting firm Romanis Cant, is selling the three venues as a package and expects a sale within four weeks.
The first venue began in Melbourne almost 20 years ago in a 650-capacity basement in the heart of the main Swanston Street thoroughfare.
In 2009, the Group bought the site of the Pavilion in Brisbane’s West End and set up the brand there as a 1,500-capacity room. Three years after, the Forum Theatre in Sydney’s Entertainment Quarter became the third link on the East Coast, with a capacity of 1,400. Bookings for the three clubs run up to June/July.