The Hi-Fi Bar Venues have entered adminstration according to themusic.com.au
According to The Music, the future of the venue chain is in doubt as a result.
A source with knowledge of the matter told theMusic.com.au today, “The reason the company has been put into administration is due to a dispute between The Hi-Fi Group and the major creditor. As no resolution could be achieved between the two parties, the main creditor has placed the venues into external administration.
“As a result, the creditor has taken over the running of the venues and it will be business as usual for the foreseeable future.”
This has an impact on the venues in Brisbane, Sydney and Melbourne.
You can read the full story here.