‘SeaChange’ pub at St Leonards placed under administration
THE St Leonards pub made famous by the TV series SeaChange has been placed under administration.
Melbourne-based accountants have said the move would give the St Leonards Hotel the opportunity to “restructure the business to avoid future trading losses”.
The pub, which has been up for sale for a number of months, will “continue as normal” in its operations during the administration period with key stakeholders said to have been consulted prior to the decision.
In a statement released from appointed administrators Simon Nelson and Anthony Cant, of Romanis Cant chartered accountants, it is said to have been “difficult to identify the causes of failure at this point” regarding the venue.
“We will be working closely with management and the directors to identify some of the causes of the financial issues,” the statement reads.
“Importantly, the administrators have garnered the support of key stakeholders to maintain the venue and business operations during the administration period.
“The administrators are confident that sale of the business or a Deed of Company Arrangement would be proposed by the directors that would be commercially beneficial to all stakeholders.”
The sale of the hotel is being managed by Colliers International, with agent Milton Tsaktsiras saying late last month that there had been varied interest in the property and that negotiations were ongoing.
The property was made famous through its appearances in the SeaChange show, where it was named the Tropical Star Hotel. The show aired between 1998 and 2000 and stared Sigrid Thornton and David Wenham.
Source: Geelong Advertiser, Bodey Dittloff, 6th November 2015
Originally published as: ‘SeaChange’ pub at St Leonards placed under administration
