Oxford Hotel management insists it will be business as usual despite the pub’s holding company being placed in receivership last week.
The Oxford, along with three other prominent Sydney pubs owned by Tony Woodward -” the Vegas Hotel, Mansions and the Peakhurst Inn -” were forced into receivership owing more than $90 million to BankWest.
The bank appointed a receiver from the insolvency firm Ferrier Hodgson to investigate the pub’s financial situation and the prospect of it paying off its debt.
Oxford Hotel management cited the introduction of the 2am lock-out and changes to licensing conditions earlier this year as part of the reason for the pub’s financial difficulties.
It’s the whole kit and kaboodle of the licensing conditions, the fact that we can’t serve glass anymore, the 10 minute time out, the lock-out -” it’s all had an effect, CEO for the four pubs Jason Gavin told Sydney Star Observer.
Most of all the perception that this is a violent venue, when it’s not, has affected our revenue greatly. If we came off the lock-out list then revenue would go back up and it would become a level playing field.
There was little chance of closure, Gavin said, but called on the gay and lesbian community to show their support.
The venues aren’t being sold, they’re not being sold at all, he said unequivocally.
We’re working with the bank to improve the hotel and further the hotels in the group. But we need the support of the gay and lesbian community if we want to maintain it as a gay iconic hotel.