Launceston nightclub announces overnight closure after 10 years in business

Bakers Lane took over Manhattan Wine Bar's York Street premises in mid-2014 and became one of the city's most recognised nightlife locations.

Its owners posted a surprise announcement on social media on Thursday night.

"Effective immediately - this concludes the Bakers era," it read.

"What a party, what a time to be alive. Thank you all so much."

The post came with a three-page closing statement from owners Stella Thomson, Nicholas Sotiriou and Ryan Farrington, detailing the good, bad and ugly of running a nightclub.

Their journey took in an ever-evolving restaurant offering, a major accounting roadbump, and all the challenges of running a nightclub.

The owners said Saturday nights came with a mix of anticipation and fear due to occurrences of "overdoses, guns, weird weapons, violent attacks, sexual assaults, so much physical violence and verbal abuse".

The business also dealt with the heartbreak of losing multiple staff members to suicide.

Reflecting on 10 years in the game, the owners said the project was never easy, but always incredible.

"We've seen the Launceston nightlife dwindling and continuing to do so, from thousands out and about on the weekends the town was alive and wild, to maybe hundreds now," they said.

"We hope those celebrating on the weekends continue to support the new beautiful little businesses guiding your weekend experiences.

"We existed for far longer than we should have. Our staff over the years really gave Bakers its heart, we've loved each and every one of you and thank you from the bottom of our hearts."

The owners said they were seeking assistance from liquidators to wrap up the business.

"Closing down is super expensive and involves heaps of boring paperwork, but we want to do this properly at the end of our journey," they said.

"Our building's lease will be ready for the next generation of dreamers in the next few months. We will have ol' mate help sell all our stuff to go towards paying the remaining bills.

"So, if you need equipment or if you've ever wanted to open a restaurant, bar, or club, hit us up, we'll know a guy with everything you'll need."