Hellenic Club of Sydney venues under new management as Adgemis’ embattled pub group exits

·

Operations at the Hellenic Club of Sydney’s Alpha restaurant and Beta Events will be taken over by Con Dedes of Dedes Waterfront Group as Jon Adgemis’ embattled Public Hospitality Group (PHG) makes a swift exit.

PHG took over business activities of the Hellenic Club of Sydney’s Alpha and Beta venues in early January. The Greek Herald first reported that Adgemis’ pub group trumped competitors such as the Dedes Waterfront Group and the Doltone House Group to win the tender to operate the venues.

Former MasterChef judge and chef George Calombaris also moved into the kitchen at Alpha in March 2024, taking the reins from Alpha’s founding chef, Peter Conistis, who fronted the venue since its opening in 2013.

George Calombaris
George Calombaris took over Alpha Restaurant’s kitchen in 2024. Photo: The Herald Sun.

This takeover came despite PHG being weighed down by $500 million debt at the time. 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.

Adgemis later struck a $400 million refinancing deal with Deutsche Bank, Gemi Investments, Archibald Capital and Muzinich & Co, to save his PHG from collapse.

Despite this, Hellenic Club of Sydney members and the wider Greek community raised concerns to The Greek Herald about the future of Alpha and Beta Events, questioning the selection of Adgemis’ PHG over competitors, and expressing unease about the club’s financial stability as well as the potential impact on its activities and reputation.

Jon Adgemis
Jon Adgemis’ Public Hospitality Group has been embattled by debt over the past year. Photo: David Swift.

In welcomed news, the Hellenic Club of Sydney confirmed in a statement on Monday, June 17 that it had mutually agreed with the pub group that PHG would depart as the operators of the Alpha and Beta businesses on Castlereagh Street.

The transition from PHG to the new operators, led by Con Dedes, has started and will continue over the coming weeks. There is no word yet on whether Calombaris will stay on at Alpha.

“On behalf of Kerrie my partner, myself and the team at Dedes Group, we are honoured to have been entrusted with this beautiful asset,” Dedes told The Greek Herald.

Dedes, the experienced operator behind a fleet of successful Sydney restaurants including Flying Fish and Sala in Pyrmont, added that the Hellenic Club of Sydney will retain its distinct Greek character.

“We thank the Hellenic Club for their trust and we shall work hard to continue the wonderful hospitality legacy which the Hellenes are famous for,” he said.

A spokesperson for PHG said they have enjoyed their partnership with the Hellenic Club over the last six months and wished them “every success with the next chapter…”

Advertisement

Share:

KEEP UP TO DATE WITH TGH

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

Advertisement

Latest News

Alumni excellence celebrated in style at Oakleigh Grammar

Oakleigh Grammar has inducted two more former students into the prestigious Alumni Hall of Fame.

A pilgrimage to heroic Souli: Remembering the legacy of the Souliotes and Souliotises

Nestled in the rugged mountains of Epirus, Souli is more than just a historical site—it is a symbol of resilience and bravery.

The First Ecumenical Council of Nicaea: Defining Orthodoxy and preserving Hellenism

The First Ecumenical Council of Nicaea, convened in 325 AD by Emperor Constantine the Great, stands as a pivotal event in Christian history.

From PAK to PASOK: Sakis Gekas to lecture on anti-dictatorship resistance in Toronto

The talk will feature some of the key moments of the anti-dictatorship struggle and its manifestations in the public sphere.

US urges EU to abandon protections for feta and other regional products

The United States is ramping up pressure on the European Union to eliminate its system of geographical indications.

You May Also Like

What you need to know about the latest reforms for Australia’s aged care sector

The Greek Herald takes a look at the latest reforms the Federal Government has pledged to make to the aged care sector.

Nola Karapanagiotidis becomes first Greek Australian woman to be appointed as judge of the County Court of Victoria

Her Honour Judge Nola Karapanagiotidis is one of six new appointments to the Victorian County Court today.

Vaughn Arambatzis wins in the Keep Australia Beautiful Sustainable Cities Awards

Vaughn Arambatzis recently won his category of Young Legends for the Keep Australia Beautiful Sustainable Cities Awards.