A large chunk of former KPMG dealmaker Jon Adgemis’ pub empire, Public Hospitality, is about to hit the market after five of his former venues were tipped into administration by a lender, New York-based private credit provider Muzinich & Co.
Mr Adgemis’ hotel business grew quickly, but it acquired a lot of debt from private credit firms and has spent the past year under pressure because of overdue bills and financial commitments that have left suppliers and staff unpaid or without their superannuation.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
