Justin Hemmes takes over Rose Bay RSL debt
Justin Hemmes has thrown RSL Club Rose Bay a lifeline, after the hospitality giant took over the venue’s debt.
The club closed its doors after going into receivership last month, just a day after launching its new food offering, Italian Bistro Villaggio.
Today, The Daily Telegraph reported it had seen documents that Hemmes Finance Pty Ltd, the registered business of Justin John Hemmes, CEO of hospitality juggernaut Merivale, has taken over the debt for the embattled club.
The club’s annual reports show a trading loss of over $350,000 in 2022 and just over $40,000 in 2023.
According to Australian Securities and Investments Commission (ASIC) documents, the club was placed into administration on August 15.
On August 30, the doors to the waterside club were locked and staff terminated after a meeting of creditors was held on Tuesday 27 August: administrators said in a statement they were hoping to trade out of it.
That position changed after receivers were appointed by a secured creditor.
Jonathan Jackson, 14th October 2024
