Jon Adgemis’ Public Hospitality Group has lost control of five high-profile Sydney pubs – including Oxford House and The Norfolk – after New York private credit investor Muzinich & Co pulled out of a deal to refinance the company’s big debt pile.

Muzinich has called in FTI Consulting, an insolvency specialist, to run Oxford House, The Exchange in Darlinghurst, The Norfolk, The Strand Hotel and Camelia Grove Hotel, as first reported by The Australian Financial Review late last week.