Ballarat’s Miners Tavern has gone into voluntary administration.
Documents on the Australian Securities and Investments Commission website indicate an administrator was appointed on February 7, with a meeting with creditors to be held on February 19.
The historic Lydiard Street North pub, which opened in 2013, features a function area, live music, a TAB, and is attached to the Element nightclub.
The announcement follows the closure of several venues across Ballarat in the last 12 months, including Seymours on Lydiard, Mojo’s Lounge, and the Athletic Club Brewery.
It also has 24 pokies, and is licensed to have 30.
According to data from the Victorian Liquor and Gambling Regulator, pokies expenditure between January and December 2017 was $1,413,779, while in the year to December 2018, it was $1,009,928 - a 29 per cent drop.
READ MORE: Ballarat spends $56.5m on pokies last year
In January 2018, the venue’s owner reported to the ABC the tavern was facing a sharp increase in power prices.
A 19th century warehouse, in more recent times, it was known as The Bended Elbow, which reopened in 2011 after closing in 2009.
Before that, many have fond memories of nights at The Canopy Club, and before that, the venerable Italian restaurant La Scala.
Voluntary administration, according to the ASIC website, means a company’s director or secured creditors appoints an external administrator, which investigates the company’s affairs to report back to creditors, or people owed money.
At the first meeting, creditors can replace the administrator or create a committee of inspection, before the investigation begins.
A second meeting will take place within 25 days, where a decision on the company’s future can be made by creditors - this could mean returning the company to its directors, or accepting a deed of company arrangement, which is an agreement regarding how the company will be governed.
Creditors could also decide to put the company into liquidation - ASIC defines this as “the orderly winding up of a company’s affairs.
The Courier is not suggesting any impropriety, or that the Miners Tavern is about to close - the pub still appeared open for lunch on Tuesday.
The Miners Tavern declined to comment at this time.
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