A once thriving hospitality venue and iconic gay pub in the heart of Sydney has been placed into administration, months after it was acquired by a US company.
An A4 poster appeared on the front door of Stonewall along Oxford St on Monday afternoon saying the business was under the control of Vanguard insolvency Australia.
Another notice that had been put up since the weekend said the Darlinghurst pub was “temporarily closed” for maintenance and repairs.
News.com.au can confirm Stonewall was placed into receivership on March 13.
Director Mohammad Najjar said the directors of the venue had tried to save the business in multiple ways but it ultimately failed.
“Like many hospitality venues, the company experienced significant disruptions during the Covid-19 pandemic and the extended government restrictions imposed on licensed venues in New South Wales,” he said.
“The effects of these restrictions continue to impact trading conditions following reopening, including reduced patronage across the precinct, shifting consumer behaviour, increased operating costs, including labour, security, compliance and utilities.”
The directors of Stonewall continued operating and “implemented initiatives” in a bid to restore and boost trade…