The music venues are now taken over by Max Watt’s Operating Pty Ltd. ASIC documents show that the company was set up last month. It is headquartered in Glen Iris, Melbourne, with offices in Sydney and Brisbane.
Apparently a number of potential new owners had contacted administrator Simon Nelson of Romanis Cant. His preferred strategy was to sell all three clubs together, but some had only wanted to buy them singly.
The three Hi-Fi bars went down after a dispute with a single creditor. The issue “could not be resolved” and the creditor put them into voluntary administration.
The three clubs continued to operate under administration, with one of the original national Hi-Fi group bookers has been retained to help ensure all gigs go ahead as smoothly as possible.
