Seven popular venues shut in an Aussie city after hospitality group collapses - leaving an uncertain future for 80 staff

Published: 23:57, 6 July 2026 | Updated: 23:58, 6 July 2026 Some of Hobart's most popular pubs will be closed after the managing group went into voluntary administration due to rising costs. The Pub Banc Group and Hotel Banc Group announced the closure of their seven venues on Monday, affecting more than 80 staff.  The sites include Cargo Bar, Jack Greene, Post Street Social, Observatory Bar, Franklin Wharf Restaurant and Bar and the Franklin Wharf Function Centre on Hobart's waterfront. Republic Bar in North Hobart has also been affected. Group director Ian Vaughan said the decision is 'deeply disappointing' and confirmed staff have been notified. Suppliers and creditors will be told this week. '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,' he told ABC News.  '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.' The group has appointed corporate finance and restructuring firm Apex Advisory to find a buyer. 'Employees who were advised of the appointment today will be stood down pending an urgent assessment of the Group's financial position,' Apex said in a statement. A Tasmanian hospitality group has entered voluntary administration, forcing seven venues to close and leaving more than 80 staff in limbo. Pictured is Cargo Bar in Hobart  Apex Advisory managing director Tim Booker (pictured) said there were hopes those venues would be up and running again 'The administrator's immediate priority is communicating directly with employees as soon as possible regarding their employment and next steps.'  Apex Advisory managing director Tim Booker said there were hopes those venues would be up and running again. '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,' he said. '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. 'These are iconic venues with strong brands, prime locations and loyal patronage, and assets of this quality rarely come to market.'  Hospitality Tasmania chief executive Steve Old said it was 'a significant blow' for the community, but added that many businesses have been struggling to make a profit. 'These aren't just businesses, they are some of Hobart's best-known hospitality venues and an important part of the Salamanca, waterfront and North Hobart precincts,' he said.  Tasmania's Tourism, Hospitality and Events Minister Roger Jaensch told Pulse Tasmania that the state government is working with the administrator to connect more than 80 affected workers with support.  Pictured, Franklin Wharf Restaurant is among the venues affected 'We hope a viable buyer can be secured as quickly as possible, with the aim of seeing these venues reopen and protecting as many local jobs as possible,' he said. Many social media users said they felt sorry for the staff and customers affected. 'The patrons also feel the loss. Will miss those bars and am praying they come back as the same venues or even better ones,' one said. A second added: 'I feel for everyone whose employment is affected.' 'It's so sad to see [these] pubs have closed,' a third said.