Hugely popular Aussie pub in Paddington is the latest to call it quits amid the cost of living crisis: 'End of an era'

A beloved Aussie pub has left its loyal Sydney customers 'devastated' after announcing it will close its doors for the final time. 

The Unicorn Hotel in Paddington was famed for classic food, cold beer and 'good times', and is now the latest victim of the cost of living crisis.

It follows the recent closure of other Sydney dining institutions Testuya's in Sydney city, Bistrot 916 in Potts Point and Big Poppa's in Darlinghurst.

'To our beloved regulars, fierce supporters, once a month-ers and those 2AM randoms... we have some sad news. Sunday September 1st, will mark the end of our stewardship of the Unicorn Hotel,' an Instagram announcement read.

The owners, who are also behind Mary's of Newtown, took over the iconic Paddington corner in 2017, calling themselves 'a bunch of idiot mates who were given the opportunity of a lifetime'.

Fans were shocked to hear of the imminent closure of the Paddington institution, with many calling it the 'end of an era'.

The Unicorn's kitchen earned a solid reputation for refusing to serve fussy gastro pub style food, and instead focusing on old school, comfort dishes.

The crumbed schnitzel with a wing served with gravy and mash, and the iconic Jatz crackers with house made French onion dip were a part of local foodie folklore.

The Unicorn Pub has been under the stewardship of the same owners behind Mary's in Newtown since 2017, they devastated fans by announcing they will close their doors on the 1st of September

The Unicorn Pub has been under the stewardship of the same owners behind Mary's in Newtown since 2017, they devastated fans by announcing they will close their doors on the 1st of September

Their famous schnitzel with a wing in the parmi version, served with chips and a cold beer was a solid crowd favourite

Their famous schnitzel with a wing in the parmi version, served with chips and a cold beer was a solid crowd favourite

'Extremely impressed with the food - one of the best pub meals I've had in my life,' one fan said. 

'The best schnitty ever,' another agreed.  

The Unicorn bar continued the old school vibes, focusing on local wine and cold beer, instead of the usual range of craft beer from microbreweries.

The absence of poker machines created an inviting space for a unique and festive pub environment where a loyal community of younger regulars came for good music, darts, pool, dancing and trivia.

Shocked fans couldn't believe the sad news, with many recounting how much the Unicorn Hotel had been a part of their lives.

The Unicorn's iconic Jatz crackers with house made French onion dip was a bar snack unlike no other - and hugely popular with the regulars

The Unicorn's iconic Jatz crackers with house made French onion dip was a bar snack unlike no other - and hugely popular with the regulars

The Unicorn steak with chips with another fan favourite
The bar focused on local wines and good times

The Unicorn Hotel was known it for an unfussy approach to food and beer, and was all about reviving classic Aussie pub culture, minus the pokies

The beloved Paddington institution will close at the start of September, marking the 'end of era' for the local community

The beloved Paddington institution will close at the start of September, marking the 'end of era' for the local community

'Had my first date with my wife here over a schnitty. Will be missed,' one man said. 

'The unicorn will forever be the best example of Australian pub food and culture,' another added. 

'For seven years it’s been impossible to have a bad time at the Unicorn. So many of my favourite Sydney times. What a blow,' a third said.

Others were wishing the owners the best of luck with the future.

'God speed, you pokie-free legends,' one man said.

The announcement of the closure comes as restaurants, cafes and other small businesses across the country are failing in record numbers.

And it's not only small business which are struggling, with popular US burger chain Carl's Jr placing 20 Australian locations into voluntary admission last week. 

The news will affect hundreds of jobs across Australia, especially in NSW, VIC and QLD.

Carl's Jr first opened on NSW Central Coast in 2016 - billing itself as a higher-end fast food chain, with prices more expensive than its competitors. 

The business model proved fatal in the current economy, with Aussies spending less on take away food and cooking at home instead.