One of Australia’s most iconic nightlife strips could look bare with several major venues under threat of shutting up shop.
Multiple bars and clubs on Chapel St in Prahran, southeast of Melbourne‘s CBD, went into voluntary administration in December with unsecured creditors owed more than $4million.
Electric Bar and Somewhere Bar in Prahran have been affected along with Circus Bar, Holy Grail and La La Land in Windsor and La La Land CBD.
Documents, seen by News Corp, indicated each bar is in massive debt.
That includes $1.21million from the company operating Circus Bar, $1.26million from Electric Bar, $450,751 from Holy Grail, $682,172 from La La Land Chapel, $346,583 from La La Land CBD and $113,302 from Somewhere Bar.
The venues remain open and trading while under administration and employees have also continued receiving their entitlements, super and pay.
Many of the clubs have hosted celebrities including international pop star Dua Lipa and AFL heartthrob Bailey Smith.
The businesses are owned by Good…