Receivers and managers have been appointed to take over The Norfolk, a popular pub in Redfern, due to the financial struggles facing Jon Adgemis’ Public Hospitality Group.
The decision came earlier in September 2024 when insolvency specialists from FTI Consulting stepped in to manage not only The Norfolk but also four other Sydney-based properties including Oxford House, The Strand Hotel, Camelia Grove Hotel, and The Exchange Hotel. All venues are to be put on the market promptly, aiming to find new ownership to secure their operational future.
In the heart of Redfern, The Norfolk is known for its vibrant atmosphere and the cult food favourite, Ricos Tacos. The community has shown concern over the potential changes in management, hoping the venue maintains its unique character and continues to serve as a gathering spot for locals and visitors alike.
FTI Consulting’s Vaughan Strawbridge remarked on the situation, saying, “We will work closely with the management of the venues to ensure they continue uninterrupted by this process while we seek new owners for the venues to secure their future.”
He expressed confidence that the hotels would sell quickly due to substantial interest in these properties.
Meanwhile, other parts of the Public Hospitality Group’s portfolio, including venues in Melbourne and Noah’s Backpackers in Bondi, remain unaffected. This financial restructuring follows a series of setbacks for the group, which lost management of the hatted Alpha restaurant and parted ways with the team behind the award-winning Maybe Sammy cocktail bar earlier in the year.
The financial reshuffle extends to the creditors, including drinks producer Michael Clifford, who is anxious about the outstanding debts owed to his company. A creditors’ meeting is scheduled for October 21, where further details will be discussed and possibly clarified.
This transition period marks a critical juncture for the future of The Norfolk and its role within the Redfern community, with hopes high for minimal disruption and a continuation of the pub’s legacy under new stewardship.
Published 18-Sept-2024
