After just six months operating Alpha restaurant and Beta Events in Sydney’s CBD, Public Hospitality has lost the Greek establishment.
Public planned to renovate Alpha’s dining room and launch a new menu designed by George Calombaris, who was appointed creative partner of the restaurant in March.
However, the plans never came to fruition, with The Hellenic Club confirming the restaurant is no longer under Public’s control.
“Public Hospitality had advised us that their new financing is focused on company-owned real estate,” says Nikolas Hatzistergos, President of Hellenic Club Limited.
“We agreed they would depart as operators of Alpha and support the transition to the incoming experienced operator, which they are currently doing.”
Dedes Group (Flying Fish) has quietly been passed the reins and is currently operating the venue.
“We have enjoyed our partnership with the Hellenic Club over the last six months and wish them every success with the next chapter of Alpha,” said a Public Hospitality spokesperson.
“George Calombaris, who joined our Alpha team as a culinary consultant in March, is also supporting the operational team through this transition.”
It’s the latest news concerning the group, which has confirmed it is undergoing a restructure.
“This is a previously reported process as part of a broader group restructure,” Chief of Staff and Head of Hotel Operations for Public Hospitality told Australian Hotelier.
“As part of that restructure a lender related to those entities have appointed a receiver as expected. This does not affect Public Lifestyle Management or the operations of our venues.”
Clayton Wells departed the group as creative culinary director last month, and it’s been reported El Primo Sanchez is now in the hands of Australia Pacific Mortgage Fund.
Companies associated with The Kurrajong Hotel and The Rose Hotel have also been placed into external administration under Ankura per ASIC documents.
Matt Whiley’s Re was slated to reopen at The Norfolk Hotel in Redfern in May, however there has been no news concerning the relaunch since it was postponed.
Last year, Love Tilly Group walked away from a partnership with Public which led to the closure of Fabbrica inside The Exchange Hotel in Redfern and Bar La Salut in The Norfolk in Redfern as well as the axing of an additional Fabbrica location inside The Empire pub in Annandale, which was put up for sale in April.
According to the Australian Financial Review, the group has recently secured a refinancing agreement with Deutsche Bank worth $400 million after months of negotiations.
