The owner of Public Hospitality Group (PHG) Jon Adgemis has listed his first pub on the market, following the collapse of his debt deal with Bain Capital.
According to the Australian Financial Review, he has put the Empire Hotel in the Inner West suburb of Annandale in Sydney up for sale.
Mr Adgemis acquired the Empire Hotel in 2021 from Oscars Hotels Group, the pub operator run by Bill and Mario Gravanis, for about $20 million.
The pub, located on Parramatta Road, will go to auction in May. The expected price is not public.
Mr Adgemis’ PHG is known for owning multiple high-profile venues in Sydney and Melbourne which include The Strand Hotel in Darlinghurst and Oxford House in Paddington.
Despite attempts to save the company and refinance it for several months, finances have continued to pile up since the collapse of the $500 million Bain Capital debt deal.
Source: Australian Financial Review.
