One of the founding partners of well-known Melbourne rock institution – Cherry Bar – has quit the venue.
According to TheMusic.com.au, Bill Walsh – the former drummer of the Cosmic Psychos – sold his remaining share in the AC/DC Lane business to partners James Young and Peter Lewis in a transaction on Wednesday.
Walsh – who opened the bar in 2000 – is now reportedly on the look out for a new business venture somewhere in Melbourne.
Mr Young said he and Lewis decided to increase their shares in the venue rather than purchase another similar bar.
“Look, Pete and I were looking to buy another bar in Melbourne when we realised that the smarter play was to buy more of the one bar we already owned, that way we didn’t have to double our workload,” he said in a statement.
“We plan to continue to perpetuate the rock’n’roll legacy created at Cherry by Billy ‘Cosmic Psycho’ Walsh.”