Some of Public Hospitality Group’s largest lenders including Deutsche Bank and Gemi Investments, are battling to keep smaller creditors on board and stop a fire sale of parts of Jon Adgemis’ empire as they negotiate a refinancing deal.
But Deutsche has been unable to prevent Angas Securities from taking control of one of Mr Adgemis’ properties in Bondi last week, while another pub put up for sale last week, the Empire Hotel in Sydney’s Annandale, may be withdrawn from the market.
Loading...
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
Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
