Seven well-known hospitality venues in Hobart, Tasmania, have closed abruptly after their operating companies, the Pub Banc Group and Hotel Banc Group, entered voluntary administration under the weight of rising costs. The collapse leaves more than 80 staff facing an uncertain future and removes several long-standing fixtures from the city's waterfront and nightlife scene, underscoring the mounting financial pressures on the wider Australian hospitality sector.

The affected sites include Cargo Bar, Jack Greene, Post Street Social, Observatory Bar, Franklin Wharf Restaurant and Bar and the Franklin Wharf Function Centre on the waterfront, along with the Republic Bar in North Hobart. Group director Ian Vaughan called the decision "deeply disappointing", saying staff had been notified and that suppliers and creditors would be informed this week. He blamed sharply rising food, beverage, utility and insurance costs alongside changing consumer behaviour. Restructuring firm Apex Advisory has been appointed to seek a buyer for the business.