Businesses on Docklands Central Pier are set to cop a massive hit over the festive season with the pier set to be shut until 2020.

Engineers are still assessing the damage after the structure collapsed in August, forcing hundreds of diners to flee.

“A decision about the future of the pier will only be made once a full assessment has been provided by the dive team and specialist marine engineers,” Development Victoria Group Head Geoff Ward said.

“We know how much this affects people’s businesses, jobs and events but the safety of people working on and using the pier has to be our number one priority.”

In response, a spokesperson for The Atlantic Group who employs 1300 staff win the precinct said:

“The tenants on Central Pier have invested tens of millions of dollars to create this iconic destination and we continue to be reassured by Development Victoria that no decision has been made on the future of the pier.”

“Central Pier plays a vital role in the Docklands community and many locals have been overwhelmingly vocal about their disappointment in the temporary loss of this precinct.”

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It’s not known when businesses will be allowed to start trading again.