It’s been a roller coaster ride for The Annandale Hotel these past couple of years, but according to triple j, the final verdict has now been cast on The Anno…and it’s not a good one. According to their sources, the iconic Sydney venue held a private event last night for those in the inner circle where they were told the keys will be handed over to the bank this afternoon.
It is yet to be confirmed but all signs are pointing to receivership. According to owners Matt and Dan Rule, the venue was publicly facing hard times on account of “crippling debt” but it was thought that the Buy-A-Brick crowdsourcing campaign, and the sale of several poker machines, had brought them back from the brink of collapse.
For more than 30 years, The ‘Dale has been the ideal location to watch live bands. In between battling noise complaints and their rising debt, international heavyweights such as The Black Keys, The Drones, The Bronx and countless others have graced the stage.
We are currently awaiting word from our people at The Annandale, but for now the future of the venue, and Sydney’s live music industry remains unclear.
Straight Arrows and Palms guitarist Al Grigg was there last night and has referred to ‘the day that the music died’ on his twitter account.
More details to come.
The Rule brothers have released a statement on the Annandale Hotel Facebook page confirming that they have been to the bank, but that things are still up in the air and there may still be hope:
Just a quick note on what happened today. Matt and Dan meet with the bank today to discuss the position of the hotel. The bank are reviewing that now,
The hotel is not closed and our goal is to work with the bank to ensure that live music will continue through this period.
We will keep you updated ASAP.
— Al Grigg (@redridersmusic) February 10, 2013