Award-winning Sydney cocktail bar splits from Jon Adgemis’ Public Hospitality Group

·

The operator of award-winning Sydney CBD cocktail bar Maybe Sammy and Randwick pizzeria Maybe Frank have split from Jon Adgemis’ Public Hospitality Group.

According to The Sydney Morning Herald, Maybe Group founders Vince Lombardo and Stefano Catino announced the end of the partnership with PHG on Friday, July 12, and said the venues would be better served under Maybe Group’s wing.

Lombardo said their Paddington tequila bar El Primo Sanchez will also “transition” from PHG to The Maybe Group through a licence agreement. The pub where the bar is located was put up for sale last week.

Public Hospitality Group’s Jon Adgemis has had his flagship venue, El Primo Sanchez bar taken over by lender, Australia Pacific Mortgage Fund.
Public Hospitality Group’s Jon Adgemis has had his flagship venue, El Primo Sanchez bar taken over by lender, Australia Pacific Mortgage Fund.

This latest development is a fresh blow for Adgemis who struck a $400 million refinancing deal in May 2024 with Deutsche Bank, Gemi Investments, Archibald Capital and Muzinich & Co, to save his PHG from collapse.

Adgemis’ project started to fray after he took on hundreds of millions in debt at high interest rates from a variety of lenders just before financing costs rose. Some lenders started trying to sell off his properties, staff were left out of pocket, and suppliers were unpaid. The Australian Taxation Office also visited the pub group’s offices in early May 2024.

In June this year, operations at the Hellenic Club of Sydney’s Alpha restaurant and Beta Events were taken over by Con Dedes of Dedes Waterfront Group after PHG made a swift exit.

Other properties of Adgemis’ have also been seized by lenders. In Sydney’s Potts Point, Bank of Queensland has taken charge of one of his properties in Ward Avenue.

Source: The Sydney Morning Herald

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Hellenic talent shines among finalists for the Australian Legal Awards

The Australian Law Awards are set to return on Thursday, August 14, celebrating 25 yrs of recognising talent in the legal profession.

New research shows Australian interest in Greek property holds steady at 10.6%

Greece is driving demand for high-quality residential properties in Attica and Crete, according to new research from Bollmann Group Hellas.

Vassilis Korkidis: Diaspora key to expanding Greek exports to Australia

Australia is steadily emerging as a strategic partner for the Greek business community, thanks to its stable economy.

Greek Australians donate audiobooks to hundreds of schools in Greece

Thanks to the solidarity of Greek individuals and entrepreneurs, and in an effort to upgrade school libraries, book donations were made.

Alphington Grammar among schools to be hit by Victoria’s controversial payroll tax

Alphington Grammar will be among the next group of Melbourne private schools forced to pay the state government's controversial payroll tax.

You May Also Like

Uber launches luxurious summer yacht service in Greece

Uber is launching a new range of summer travel services to offer tourists unique and luxurious experiences across Europe.

Travel + Leisure Magazine announces top 10 resorts in Greece

Travel + Leisure magazine recently revealed the “10 Best Resorts in Greece” for 2022, as voted by its readers.

Sydney Olympic FC’s new coach sets his sights on 2023 NPL Premiership

Sydney Olympic FC’s new coach, Labinot Haliti, has been tirelessly prepping the Olympic squad with the aim of a successful 2023.