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

Greek PM holds secret meetings with British Museum about Parthenon Marbles return

Greek PM Kyriakos Mitsotakis has reportedly held private discussions with the British Museum about the return of the Parthenon Marbles.

Fatalities mount as Storm Bora leaves trail of destruction in Greece

A man was found dead on the Halkidiki peninsula in northern Greece after Storm Bora unleashed torrential rain across the region.

Easey Street murder suspect Perry Kouroumblis extradited from Italy to Australia

Perry Kouroumblis, who is wanted for the infamous 1977 Easey Street murders in Melbourne, is set to arrive in Australia on Tuesday night.

Greek Australians shine at the St George Community Awards

Sydney's Greek community celebrated a stellar presence at the 14th annual St George Community Awards held on Friday, November 29.

Brotherhood of Chalkidiki in NSW hosts Christmas celebration

The Brotherhood of Chalkidiki "Aristotelis" of NSW hosted its 2024 Christmas celebration with remarkable success.

You May Also Like

Greek is the word: The SA restaurants and chefs that excelled in the 2022 industry awards

Two Greek restaurants and one Greek Australian chef have been named winners of the 2022 Restaurant & Catering Awards for Excellence in SA.

St Euphemia College student Anastasia Lambros wins Victor Chang Science Award

Anastasia Lambros, a Year 11 student at St Euphemia College in Sydney's Bankstown, has been honoured with the Victor Chang Science Award.

Pafos FC writes European history

Pafos FC lived another historic moment on Thursday, as it celebrated its first victory in European competitions.