Hobart pub group behind Republic Bar and Cargo Bar collapses into administration
Seven of Hobart's best-known venues, including the Republic Bar, Jack Greene and Cargo Bar, have shut their doors after the companies behind them, Pub Banc Group and Hotel Banc Group, entered voluntary administration, with owners citing rising supply costs and shifting consumer behaviour.
Corporate finance and restructuring firm Apex Advisory has been appointed to lead an urgent sale process for the venues, which together employ more than 80 people.
The affected sites are Cargo Bar, Jack Greene, Post Street Social, Observatory Bar, Republic Bar, Franklin Wharf Restaurant & Bar and Franklin Wharf Function Centre. All will remain closed while the sale process is carried out.
Apex Advisory managing director Tim Booker said the administration was designed to preserve the value of the businesses while a buyer is found. "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, according to the ABC.
"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," Booker added.
Booker said he expected strong buyer interest given the strength of the brands involved. "These are iconic venues with strong brands, prime locations and loyal patronage, and assets of this quality rarely come to market," he said.
Pub Banc Group and Hotel Banc Group director Ian Vaughan described the appointment of administrators as "deeply disappointing," telling the ABC the business had faced "significant headwinds."
"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," Vaughan said.
"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," he said.
Hospitality Tasmania chief executive Steve Old said the closures were a "significant blow" for the state's hospitality sector and the Hobart community, noting the venues were "an important part of the Salamanca, waterfront and North Hobart precincts," according to the ABC.
Old pointed to sustained pressure across the industry, saying operators were running on "incredibly tight margins," and called on governments to better recognise hospitality's economic contribution rather than treat it "as convenient political targets."
Tourism, Hospitality and Events Minister Roger Jaensch said the government's immediate priority was supporting affected staff, noting Jobs Tasmania had already engaged with the administrator to connect workers with support services.
Hobart Lord Mayor Anna Reynolds said the council's "thoughts are with the more than 80 employees affected," and called for state government support "just as it has stepped in to assist other industries and communities across Tasmania facing significant job losses and uncertainty," the ABC reported.
Hospitality Tasmania noted the sector remains the state's third-largest employing industry, underscoring the broader stakes of the venues' future sale.
Jonathan Jackson, 7th July 2026
