The owners of the Annandale Hotel have responded to reports that the Sydney music venue is on the verge of shutting its doors for good.
Matt and Dan Rule, who bought the Annandale in 2000, posted a statement on Facebook saying they hope to keep the venue open after meeting with financiers.
Rumours suggesting the Annandale is in receivership started on Monday following tweets from local musicians who claimed they were attending a private farewell party on Sunday night.
But the Rule brothers have moved to dampen speculation by insisting the Annandale, which is situated on Parramatta Road, will stay open while the bank reviews the financial position of the business.
"Matt and Dan meet with the bank today to discuss the position of the hotel. The bank are reviewing that now," the statement on the Annandale Hotel Facebook page read.
"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 posted ASAP."
The Annandale was built in the 1930s and became a live music venues in the 1980s. It launched the careers of Australian acts including The Vines, Jet and The Living End, and became a popular stop for touring acts including The Black Keys, The Dandy Warhols and Joan Jett.
Despite efforts by the Rule brother to maintain the hotel as a live music space, it has been crippled by debt and threatened with closure by Leichhardt Council over noise compliance and late trading.
In 2011, the hotel owners launched a 'Buy-A-Brick' plan, which encouraged fans to buy a stake in the venue. They have since raised more than $50,000.
On Monday, Leichhardt Mayor Darcy Byrne threw his support behind the Annandale, promising to do everything in his power to save the venue.
"So many Australian artists have had their start playing at the Annandale... its loss would be a body blow to young performers across Sydney," he said.
"It is crucial that the Annandale remains a live music venue, we want rock'n'roll not residential development."
AAP
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