Rose Bay’s beloved Club Rose Bay appears to have a lifeline, with hospitality magnate Justin Hemmes poised to take over the struggling venue.
The waterfront establishment shocked locals when it abruptly closed its doors last month, just a day after the launch of its new Italian bistro, Villaggio.
The sudden closure came after the club was placed into voluntary administration on 15 August. Despite initial hopes from administrators that the club could continue to operate, a secured creditor appointed receivers, leading to the club’s shutdown and staff terminations.
Now, documents obtained by this publication reveal that Hemmes Finance Pty Ltd, the registered business of Merivale CEO Justin Hemmes, has assumed the club’s debt. This move strongly suggests that Hemmes, known for successfully revitalising numerous hospitality venues across Sydney, is planning to take the reins at Club Rose Bay.
The club has faced financial challenges recently, reporting losses exceeding $350,000 in 2022 and over $40,000 in 2023. While the future direction under Hemmes’ leadership remains unclear, his involvement brings hope for the club’s revival and the preservation of a cherished community asset.
This development follows weeks of speculation that another entity would step in to save the iconic Rose Bay institution. Hemmes’s potential acquisition marks a significant turn of events for the club, promising a new chapter in its history.
Locals and patrons alike will eagerly watch to see what transformations Hemmes has in store for this prominent Rose Bay landmark.
Published Date 28-October-2024
