Sydney's historic Annandale Hotel has been placed in the hands of receivers, according to a media report.
News Limited says the St George bank has foreclosed on the Parramatta Rd pub.
Receivers Ferrier Hodgson have been appointed to take over the hotel, which has been struggling with a $3 million mortgage, it has been reported.
Brothers Matt and Daniel Rule bought the hotel in 2000 and are believed to have refinanced their loan in the past year.
The hotel is understood to be worth between $2.5 million to $3 million.
The Annandale was built in the 1930s and became a live music venue 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.
Apart from being crippled by debt, the hotel has been threatened with closure by Leichhardt Council over noise compliance and late trading.
But Leichhardt Mayor Darcy Byrne this week threw his support behind the Annandale, promising to do everything in his power to save the venue.