Latest news with #DeFraga
Daily Mail
07-05-2025
- Business
- Daily Mail
Shock as 170-year-old pub faces closure as owners desperately search for a new buyer
One of Melbourne 's oldest pubs may be calling last drinks forever as it faces closure almost two centuries in operation. The Kingston Hotel on Highett Street in Richmond, Melbourne, has entered administration. The venue first opened its doors in 1854 and has lived many lives, each playing a vital role in Melbourne's social landscape. In the 1970s, the bar was a key hub in the city's vibrant music scene, and during the 1980s, it briefly operated as a lesbian-run pub - adding another unique chapter to its storied history. The company where the venue is held, owned by the De Fraga family, was served a wind-up notice by the Australian Taxation Office earlier this year. The financial collapse follows an ambitious $1.5million renovation, which saw the public bar completely rebuilt. The redevelopment also included a new restaurant, named Marble & Pearl. The bar's courtyard was also redesigned by Melbourne architect Jim Fogarty in a 'provincial Tuscan' style. Renovations on the venue took 14 months to completed, being delayed due to Covid lockdowns in 2021. Administrators from Cor Cordis are now urgently seeking a buyer to rescue the long-standing establishment. A Cor Cordis spokesman told the Herald Sun 'a number of interested parties are now undertaking due diligence in relation to the company's affairs and future prospects'. While the De Fraga family is considering ways to repay creditors, no formal recovery plan has been announced. 'The administrators will continue to fulfil their statutory duties and will keep creditors informed as the administration progresses,' the spokesman added. It has also been revealed that two other Melbourne venues, also owned by the De Fraga family, have been sold. The Swan Hotel on Church Street in Richmond, and the nearby Public House have both been sold to Australian Venue Co. 'We can confirm that AVC acquired Public House and the Swan Hotel in Richmond on 22 October 2024,' an Australian Venue Co. spokesman said. The Swan Hotel was held in the same entity as the Kingston Hotel, called Trident Star Enterprises, which went into voluntary administration. Public House meanwhile was owned by Mr De Fraga's company, Public House Consolidated, which has been liquidated. Public House also underwent expensive renovations in 2020, with the venue being completely overhauled at an estimate cost of $3million. Australian Venue Co. owns more than 200 bars and clubs across the country. They made headlines earlier this year after receiving backlash for comments made against Australia Day, which resulted in them releasing a public apology.
Herald Sun
02-05-2025
- Business
- Herald Sun
Richmond pub The Kingston collapses into administration
One of Melbourne's most historic pubs is facing an uncertain future as its owners grapple with financial strife. The Kingston, a heritage-listed venue on Highett St in Richmond dating back to the 1850s, has collapsed into insolvency, with administrators undertaking an urgent sale campaign. The Richmond institution is owned by the De Fraga family, spearheaded by husband and wife duo Jonathan and Chantal De Fraga, who are prominent names in Melbourne's hospitality scene. It can also be revealed that the De Fraga family sold off two other popular Richmond venues – Public House and the Swan Hotel. It is understood both venues were purchased by hospitality giant Australian Venue Co., with settlement completed in October 2024. The Kingston, which employs 29 staff, advertises itself online as a 'sophisticated yet relaxed hotel and dining experience, nestled in the quiet leafy streets of Richmond'. The hotel has recently undergone an extensive revamp, estimated to cost $1.5m, including a newly renovated public bar, deck and beer garden, and the addition of ritzy restaurant Marble & Pearl, showcasing premium Australian beef and local seafood. In the mid-1970s, The Kingston was a significant early player in the development of inner-city pubs as music venues, hosting bands including the Pelaco Brothers, Skyhooks and Crossfire For six years in the 1980s, it became an all-lesbian run pub, with the late Pat Longmore as its licensee. The pub, which is housed in a corporate vehicle called Trident Star Enterprises, previously faced a winding up application by the Australian Tax Office lodged in the Federal Court in January this year. Winding up notices are usually issued by creditors of a company in order to enforce the payment of a debt. If the debt is found legitimate and a company is unable to pay, the business is usually placed into liquidation by the court. The winding up application has since been adjourned and the company was placed into voluntary administration, with Daniel Juratowitch and Rachel Burdett of Cor Cordis appointed administrators on March 11. A Cor Cordis spokesman told the Herald Sun they had run a successful sales campaign, which attracted strong interest from potential purchasers. 'A number of interested parties are now undertaking due diligence in relation to the company's affairs and future prospects,' they said. The spokesman said the De Fraga family may consider proposing a deal to creditors – known as a deed of company arrangement – although no formal proposal had been put forward at this time. They said a second meeting of creditors was not required to be held until July this year. 'The administrators will continue to fulfil their statutory duties and will keep creditors informed as the administration progresses,' they said. The Swan Hotel was also housed in the company Trident Star Enterprises, while Public House was run by Mr De Fraga's company Public House Consolidated, which has since entered liquidation, a notice lodged with ASIC earlier this week reveals. Mr De Fraga had previously completed an estimated $3m renovation on Public House in 2020. It comes after the appointment of administrators to Trident Star Enterprises ended up in the Supreme Court of Victoria this week, after Cor Cordis legal representatives discovered a technical defect with the process of their appointment. The appointment had been made by Mrs De Fraga using the power of attorney after the court revealed Mr De Fraga had been diagnosed with a serious illness – an act found to be legally ineffective. But the court decided that the appointment was ultimately valid, citing the administrators' good faith, urgency and need to avoid disruption. Justice Paul Cosgrave said the administrators had already taken substantive steps in conducting the administration. 'Primarily, they have continued to operate the Kingston Hotel business and have procured the transfer of the liquor licence,' he said. 'It is likely that any challenge to the validity of their appointment would be disruptive to the business and create further inconvenience and potential loss to creditors.' The Kingston was contacted for comment.
