The Stonewall Hotel in Darlinghurst announced this week that is has entered into voluntary administration.
A pillar venue of the LGBTQIA+ community in Sydney for almost 30 years, the news has been received with shock.
The news was announced on social media on Tuesday by director Craig Bell, stating that it was “a difficult decision.”
Vanguard insolvency Australian has been appointed administrators of the venue, and principal Mohammad Najjar cited Covid stresses, trading restrictions and less frequency of the precinct as the causes of the venue’s troubles.
“Like many hospitality venues, the company experienced significant disruption during the COVID-19 pandemic and the extended government restrictions imposed on licensed venues in New South Wales. The effects of these restrictions continued to impact trading conditions following reopening, including reduced patronage across the precinct, shifts in consumer behaviour, and materially increased operating costs including labour, security, compliance and utilities,” explained Najjar.
“Following the pandemic period, the directors continued to operate the business while implementing initiatives intended to restore…