Booze news
August 15, 2012
Richard for 2011

Too much alcohol sends two Kings Cross nightclubs to the wall … Trademark and Piano Room awash in debt … Administrators to hand as landlord looks for fresh tenants  

Party people at the Trademark HotelSydney Morning Herald gossip correspondent Andrew Hornery reported (Saturday, Aug. 11) that two Kings Cross drinking saloons have gone into liquidation. 

The Trademark Hotel and the adjoining establishment the Piano Room have been washed away by debt and unpaid bills. 

Both establishments, which lurk somewhere behind the Coke sign in Bayswater Road, have been run by identities associated with the Kings Cross businessman, John Ibrahim. 

It does seem strange that "hot" drinking and clubbing venues are hundreds of thousands of dollars in the red when the boozing scene in the Cross has never been more intoxicating. 

The Trademark and Piano Room were watering holes favoured for what passes as Sydney society - Kyle Sandilands and the like. 

The main creditor is the landlord, South African property czar Greg Magree, who owns the real estate for an array of pubs and clubs, including the Norfolk, Carrington and Forresters. 

Cor Cordis is the administrator and Magree is reportedly negotiating with new licensees to keep the drinks flowing. 

The holding company, Trademark Hotels Pty Ltd, had been owned by associates and pals of the king of Kings Cross, the diminutive John Ibrahim: Poata Okeroa, David Auld and Mimmo Salvato. 

Aptly, Sandilands says his investment in the business is "dormant".  

Article originally appeared on Local news from postcode 2011 (http://postcode2011.com.au/).
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