Publican Jon Adgemis’ luxury yacht not safe from creditors

Investors owed money by Jon Adgemis’ hospitality empire tipped a company that owns the publican’s luxury yacht into receivership last month – before handing it back.

The incident highlights the fraught nature of negotiations aimed at keeping Mr Adgemis’ Public Hospitality Group, which has been weighed down by more than $500 million in debts, afloat. PHG owns several high-profile venues in Sydney and Melbourne including The Strand Hotel in Darlinghurst and Oxford House in Paddington.