Restaurant mogul Jon Adgemis owes millions in unpaid superannuation to his hard-working hospitality staff amid five of his restaurants recently entering administration.
Staff members have expressed outrage over the delays in receiving their entitlements, with some payments overdue by more than a year.
A string of staff have spoken out after New York lenders Muzinich pulled part of the funding on a complicated $400 million deal that was meant to save Adgemis’ Public Hospitality Group (PHG).
A source close to the entrepreneur told The Advertiser that his bankers were at fault because he had a comprehensive plan to trade out of his financial problems.
Adgemis had intended to pay all staff their correct wages and entitlements, but now there was doubt about how the administration could honour those debts, the source added.
The mogul remains in control of at least ten restaurants across Australia, including popular venues such as The Town Hall and The Lady Hampshire in Sydney, as well as The Saint, Vine and The Clifton in Melbourne.
As the situation at PHG continues to unfold, staff members are increasingly disheartened by the prospect of recovering their hard-earned wages. Many are left questioning the viability of the business and whether their financial entitlements will ever be fulfilled.
Source: The Advertiser.
