A major lender to Public Hospitality Group, the hotel empire put together by former KPMG deal maker Jon Adgemis, has signalled it will call in receivers for five Sydney pubs after ignoring an offer to have its debt bought out.
Public Hospitality venues Oxford House, The Exchange in Darlinghurst, The Norfolk, The Strand Hotel and Camelia Grove Hotel could have receivers appointed on Monday by New York-based private credit provider Muzinich & Co, sources with knowledge of the situation told AFR Weekend.
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Max Mason covers financial crime, courts 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
