Transit Bar in the city ceased trading on 12 February. The name had been associated with the Canberra music scene for more than two decades. Photo: Ian Bushnell.
Canberra’s tough trading conditions for the hospitality industry have claimed an iconic name in the ACT music scene, with Transit Bar in the city closing its doors and the company going into liquidation.
Three years after Transit Bar re-emerged at Baileys Corner after a two-year-long hiatus forced by COVID-19 and failed rent negotiations at its former premises in Akuna Street, the venue ceased trading on 12 February, and the operating company owned by Bin Reynolds is in the hands of RMS Australia liquidator Frank Lo Lipato.
Mr Lo Lipato said it was still early days and he has yet to determine the company’s assets and liabilities.
He was liaising with the manager to see how many creditors there were and amounts owing to be in a position to issue a report on 25 February.
Transit Bar had been a name in the ACT music scene for more than two decades, but the writing was on the wall when it stopped hosting gigs about a year ago.
Music ACT President Bec Taylor said Transit put on some great shows at the new venue, which was an amazing space for live music.
It was a tragedy that it had stopped hosting gigs and now closed, she said.
“It was such a unique-shaped room, which is always actually good for live music because it had its own character,” Ms Taylor said.
A Transit Bar gig soon after it opened at Baileys Corner in 2022. Photo: Harry Chalker.
Ms Taylor said people weren’t going out and spending as much in the current environment, and young people, in particular, didn’t drink alcohol as much, which made it harder for a music venue to turn a profit.
She said it was a blow to the music scene, but over the past five years, musicians had gotten used to venues coming and going in Canberra.
“The climate for live music at the moment is really tricky, after 20 years of the internet changing the income streams of musicians, then the economy and the pandemic,” Ms Taylor said.
Only last year, “a really great venue”, sideways, in the Sydney building, closed its doors.
Canberra’s music scene was still happening, but it was the more niche venues, such as Smith’s Alternative, that were doing better.
“Venues that are modernising and finding niches are doing really well, but for the classic rock and roll pub venues, which Transit was, it’s a bit harder,” Ms Taylor said.
But she said the good news was that a new venue – Dissent Cafe and Bar – had just opened on City Walk.
ACT Australian Hotels Association general manager Chris Gatfield said the hospitality industry was in a very tough place at the moment.
“Customers have tightened their wallets at the same time as unavoidable costs of stock, energy, insurance, wages, beer and spirit excise, rent, and pretty much everything else have skyrocketed,” he said.
“Any business going under is a terrible story, but the loss of a great live music venue is a kick in the guts for local fans, artists, staff, and musicians.”
Mr Gatfield said the AHA would continue to work with the ACT Government on practical policy support for the industry until economic conditions improve.
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