Jon Adgemis settles debts and plans venue relaunches

·

Sydney pub mogul Jon Adgemis has paid $400,000 to creditors as part of a deal to settle debts from his former hospitality empire, Public Hospitality Group, which fell into administration late last year.

This payment, the first of two instalments, is part of an agreement that will see Adgemis contribute a total of $1 million in cash, plus $6.7 million in the form of a convertible note.

According to The Australian, the remaining $600,000 is set to be handed over in the coming months.

As part of his recovery plan, Adgemis is focused on the completion of several significant renovations, including the 19-room boutique hotel, The Flinders in Darlinghurst, and the Exchange in Balmain.

Photo: David Swift.

Additionally, he is looking to sell off some of his Melbourne venues, including the Saint, Vine, and Clifton hotels, in favour of concentrating on his Sydney properties.

Meanwhile, several of Adgemis’ former venues have been taken over by new operator Linchpin, led by industry veteran Terry Soukoulis.

Linchpin is now managing venues such as the Empire Hotel in Annandale, the Clifton Hotel, and the Lady Hampshire Hotel. The group also plans to reopen the Bayswater Sydney Hotel and Noah’s Backpackers in Bondi.

Soukoulis emphasised that Linchpin is distinct from Adgemis’ former operation and is focused on building a separate identity.

Source: The Australian.

Cretan Convention - Web Banner

Advertisement

Share:

KEEP UP TO DATE WITH TGH

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

Advertisement

Latest News

The man for all jobs: How a Greek migrant turned setbacks into 7-figure success

When Christof Mantzanas stepped off the plane in Melbourne on 10 March 2015, he had just $1,000 in his pocket.

Jimmy’s Kitchen brings authentic Greek hospitality to The Rocks

Sydney diners can now experience the warmth, flavour, and soul of a traditional Greek taverna without the flight to Greece.

Greek Community of Melbourne enhances safety with defibrillator training seminar

The Greek Community of Melbourne (GCM) took a notable step towards enhancing community safety by organising a defibrillator training seminar.

Wills without the Trojan War

After nearly 15 years in the legal industry, I’ve lost track of how many matters I’ve worked on involving family disputes over estates.

From tech to health: Greek Australians driving innovation in 2025

Australia’s Top 100 Innovators celebrate those who turn setbacks into breakthroughs. This year, three Greek Australians are among them.

You May Also Like

Milos voted best island in the world by US travelers

The Greek island of Milos was recognized by the readers of US tourism magazine "Travel+Leisure" as the greatest in the world in the publication's annual World's Best Awards.

Vaughn Arambatzis aims to raise $1000 for Sydney Dogs and Cats Home by recycling bottles

Vaughn Arambatzis wants to raise $1000 for the Sydney Dogs and Cats Home by collecting and recycling cans and bottles.

Hellenic Medical Society of Australia’s Careers Day returns to inspire students

The Hellenic Medical Society of Australia invite all year 9-12 students to attend the HMSA ‘Pathways to Success’ Careers Day.