Jon Adgemis strikes $400m refinancing deal to save pub empire

Former KPMG dealmaker turned publican Jon Adgemis has struck a $400 million refinancing deal with a consortium led by Deutsche Bank, saving his hotel empire from collapse but forcing him to sell a handful of assets to pay off heavy debts.

Mr Adgemis’ Public Hospitality Group signed the long-awaited agreement with his major lenders, Deutsche Bank, Gemi Investments and Archibald Capital, this week, people with direct knowledge of the matter said.