Vaughan Strawbridge and Joseph Hansell of FTI Consulting have been appointed as Receivers and Managers (“Receivers”) to a number of the Public Hospitality Group entities.
Vaughan Strawbridge and Joseph Hansell of FTI Consulting have been appointed as Receivers and Managers (“Receivers”) on 13 September 2024 to a number of the Public Hospitality Group entities (included in Schedule 1), under security held by TREA ST Pty Ltd as trustee of the Public Group Security Trust. The appointment is over the four trading venues: The Strand Hotel; Camelia Grove Hotel; Norfolk Hotel; Oxford House; and one development site, the Exchange Hotel.
Duncan Club and Andrew Sallway of BDO were appointed Voluntary Administrators on 13 September 2024 of Public Lifestyle Management Pty Ltd; 146 Henderson Street Pty Ltd and Camelia Grove Operations Pty Ltd.
The Receivers are working with existing management and staff teams to continue to trade the venues in the ordinary course of business while they commence a sale of business campaign.
Receiver Vaughan Strawbridge said: “We will be working closely with management of the venues to ensure they continue uninterrupted by this process while we seek new owners for the venues to secure their future.
“We expect a lot of interest in these venues and will work closely with venue management to achieve a successful outcome.”
Schedule 1