Bankrupt Adgemis’ deal to rescue a slice of his pub empire collapses

A proposed $6.7 million buy-back deal by bankrupt pub baron Jon Adgemis to reclaim five Sydney venues from receivership has collapsed after he missed the payment deadline, prompting BDO’s Duncan Clubb—now liquidator of Public Lifestyle Management—to proceed with winding up the company amid continuing fallout from Adgemis’ $1.8 billion personal bankruptcy, the largest in Australian history.

More from Commercial Real Estate.