Lenders tried to sell Jon Adgemis’ pubs to Justin Hemmes’ Merivale

Lenders to publican Jon Adgemis tried to convince hospitality baron Justin Hemmes to take over his Public Hospitality Group earlier this year before the embattled business locked in a refinancing deal.

Mr Hemmes and his Merivale hospitality and gaming empire were shown internal financial spreadsheets by one major lender trying to stem the losses at Public Hospitality, revealing Mr Adgemis’ high debts and relatively low revenues, three sources familiar with the approach said.