The music has stopped for prominent venues The Hi-Fi group, with a statement announcing voluntary administration due to a dispute with a single creditor.
Owners of the three music venues, including former Carlton footballer Luke O’Sullivan, issued the statement last week, which said the disputed “could not be resolved” and as a result “the creditor put the business into voluntary administration”.
The group has operated since 1997, with the opening of the Melbourne venue. Brisbane followed in 2009, and the Sydney venue, in the Moore Park Entertainment Quarter, opened in 2012.
The chain has headlined top Australian and international acts such as Hunters & Collectors, Eskimo Joe, Cat Empire, No Doubt, Foo Fighters and Public Enemy.
Melbourne accounting firm Romanis Cant was appointed administrator, and the venues will reportedly continue to operate with a four-week campaign underway to sell them as going concerns.
Simon Nelson of Romanis Cant told Fairfax he was “highly confident” of achieving a sale.
“All three venues will continue to trade under my control with the support of key employees, industry stakeholders, landlords and other stakeholders,” said Nelson.