It would have been too much to expect an ASX announcement from PPN today but it is all over the news media that Showgirls Bar 20 has had its liquor licence cancelled following a hearing at VCAT in April.
PPN has been disqualified from holding and managing a liquor licence, being a partner in any liquor licence and gaining any beneficial interest from a liquor licence.
Two of PPN's directors have also been disqualified from holding a liquor licence or participating in the liquor industry for 18 months.
PPN has the option to appeal the decision to the Supreme Court. If an appeal is lodged within 28 days, PPN can get a stay to the order and still trade. Unless the Supreme Court follows the script of the movie "Personal Services", I don't think PPN stands any chance of having the VCAT decision overturned.
Of course the main attraction at Bar 20 is the girls, not the alcohol so there is no reason to close its doors.
Bar20 could become the World's first strip club coffee shop for teetotalers since Prohibition in the Roaring Twenties. The Police will now have to make regular raids to check the teacups for the evil liquid while ignoring the violence outside.
PPN Price at posting:
29.5¢ Sentiment: None Disclosure: Held
