Two former jewels in Damian Griffiths’s local hospitality crown – Alfred & Constance and Limes Hotel – have been put on the market by receivers.
The freewheeling nightspot and boutique hotel went into receivership and closed suddenly late last year. This happened after Griffiths lost a court action brought by his aunt, Wendy Griffiths, and cousin, Murray Griffiths. It sent both venues into default. Advisory firm McGrathNicol was appointed to oversee them.
The Courier Mail reports Alfred & Constance and Limes have now been put up for sale by commercial real estate services company CBRE under instruction from McGrathNicol.
“The sale presents a great opportunity for an incoming purchaser to secure one or both sought-after venues within the accommodation, restaurant and bar scene,” CBRE’s Paul Fraser is quoted as saying in the Courier story.
McGrathNicol has been operating Alfred & Constance since February 1 but the enormously popular venue has been a shadow of its former self; the decision not to open on-site restaurants Kwan Bros and Alf’s Place has hobbled the precinct.
Late last year Griffiths offloaded his popular Les Bubbles eatery. And on Monday it was announced he’d sold his Doughnut Time doughnut chain. And that half of its outlets will close. Both have been taken on by the company’s former CEO and managing director Dan Strachotta, a turnaround specialist with experience working with start-ups and growth businesses.
Griffiths’s legal problems continue; earlier this week the entrepreneur was hit with a bankruptcy lawsuit. “I have been facing a legal action by my aunt Wendy Griffiths and her son Murray Griffiths who [are] chasing me to the end of the earth,” Griffiths told Broadsheet by email earlier this week. “She has filed [bankruptcy] proceedings against me.”
It follows a $404,000 lawsuit filed in the Supreme Court by Frasers Property, landlords of Central Park Mall in Chippendale, over an alleged breach of contract and unpaid rent for a Doughnut Time store in Sydney shopping centre.