The venue – which has hosted the likes of Drake, Paris Hilton, Leonardo DiCaprio and Cardi B in its heyday – has been stricken by a "string of incidents and points" in latest occasions that has impacted its closure, administration advised 9news.com.au.
CEO at The Star Scott Wharton at this time confirmed the information, admitting it was "time for the enterprise to maneuver in a distinct course".
He mentioned "different meals and beverage choices" are actually being checked out to fill the house.
"(The Marquee Model) are a superb companion, and we are going to focus on doing extra with them," he mentioned.
"Incidents and points have surfaced at occasions and that creates further pressures to fulfill the requirements we anticipate of ourselves.
"It is a robust name to make but when we will earn again the belief and confidence of all our stakeholders, we have to assess and react accordingly on how we run our operations."
Mr Wharton mentioned the "redeployment of workers" was a prime precedence for the corporate and that future plans for the venue can be introduced in the end.
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The "state-of-the-art" venue has turn into famend over years for being frequented by Sydney's elite, in addition to worldwide stars and celebs and for internet hosting main Australian occasions.
The nightclub opened in 2012 and can formally shut its doorways for the final time later within the yr.