The Strand Hotel, Camelia Grove Hotel, Norfolk Hotel, Oxford House, and development site the Exchange Hotel - Receivership

The Strand Hotel, Camelia Grove Hotel, Norfolk Hotel, Oxford House, and development site the Exchange Hotel — five high-profile Sydney pubs owned by Jon Adgemis's Public Hospitality Group — have been placed in receivership, with Vaughan Strawbridge and Joseph Hansell of FTI Consulting appointed as receivers and managers.

Duncan Clubb and Andrew Sallway of BDO were also appointed as voluntary administrators of Public Lifestyle Management Pty Ltd, 146 Henderson Street Pty Ltd and Camelia Grove Operations Pty Ltd.

Public Hospitality has been the subject of headlines over the past year, including due to the loss of certain venues from its portfolio and a number of operational changes and departures.

In June, Public Hospitality reportedly reached a $400 million refinancing deal with Deutsche Bank and certain investment firms to save the hospitality giant from collapse. However, Muzinich & Co, a New York-based private credit investor which is believed to hold over $100 million of Public Hospitality’s debt, has reportedly pulled the plug on the refinancing deal this week.

The receivers, who are confident they will see a lot of interest in the venues, are working with the current management to continue trading while a sale campaign is organised.