Merivale (company)

Last updated

Merivale
Company type Privately held company
Industry
Founded1957;67 years ago (1957)
FoundersJohn & Merivale Hemmes
Headquarters
Sydney
,
Australia
Key people
 Justin Hemmes (CEO)
Services
  • Nightclubs
  • Pubs
  • Restaurants
Number of employees
~2,500 (2015)
Website Official website

Merivale is an Australian privately held company, with property assets involved in the entertainment and hospitality sectors, predominantly in Sydney, New South Wales.

Contents

Fashion years

It was founded in 1957 in Sydney by John and Merivale Hemmes, initially as a millinery in Sydney's Boulevard Arcade, later expanding into clothing. In 1959, the first House of Merivale fashion store was established in the Theatre Royal in Castlereagh Street. It expanded into a successful and influential high-fashion chain with three stores in Pitt Street, two in Melbourne and one in Canberra. [1]

Hospitality and property diversification

Merivale diversified into both hospitality and property interests, acquiring the Angel Hotel building in Pitt Street, which included a restaurant that reopened as a boutique, and was the first item in a substantial property portfolio. [2]

It expanded further into hospitality in the early 1990s with the Merivale restaurant in Potts Point, as it began winding down its fashion interests, closing the last fashion outlet in 1996. [2] [3]

Hemmes' son, Justin, took over the business in the mid-1990s and aggressively diversified into hospitality, operating more than 70 nightclubs, pubs and restaurants, primarily in Sydney, by 2020. [4] [2] [5] [6] Notable assets include Hotel CBD, [7] the Newport Arms Hotel [8] and the Slip Inn. [9] In 2021, Merivale purchased the Lorne Hotel for A$38 million, expanding the company's reach into Victoria. [10] [11]

In 2019 a class action was commenced against Merivale, alleging A$129 million in under-payment of approximately 14,000 employees who were employed between December 2013 and December 2019. The litigants claimed that the employees were not paid for the significant overtime they were required to work, beyond the maximum allowance of 38 hours per week. [12] [13] Merivale denied the claims. [14] [15] [16] [17] On 30 March 2021, in a major loss to Merivale, Justice Thawley in the Federal Court ruled that the WorkChoices agreement was not validly approved. [18] On 6 March 2024, Merivale, agreed to a A$18 million settlement without admitting wrongdoing. The settlement, allocates about half of the funds to cover legal costs and the litigation funder's commission, with approximately A$9.4 million earmarked for the affected workers. [19]

See also

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References

  1. ↑ "Husband, Wife Fashion Team". Canberra Times . 5 December 1975. p. 15 – via Trove, National Library of Australia.
  2. 1 2 3 John Hemmes obituary: Merivale Group founder and hospitality legend with sharp eye for fashion and restaurants Sydney Morning Herald 6 March 2015
  3. ↑ The Merivale effect: an insight into Sydney’s hospitality empire Hospitality Magazine 30 November 2015
  4. ↑ Molloy, Shannon (14 March 2020). "From notorious Sydney playboy to billion-dollar businessman: Justin Hemmes' life of luxe". The Chronicle. Toowoomba . Retrieved 21 November 2020.
  5. ↑ Our Story Merivale [ self-published source? ]
  6. ↑ Sydney hospitality heavyweight Justin Hemmes calm at centre of Merivale expansion Good Food 6 October 2015
  7. ↑ Hotel CBD Merivale [ self-published source? ]
  8. ↑ "How Justin Hemmes snapped up the Newport Arms Hotel in dramatic late night $50m deal". Daily Telegraph . 18 March 2015.
  9. ↑ Slip Inn Merivale [ self-published source? ]
  10. ↑ Cummins, Carolyn; Johanson, Simon (19 May 2021). "Sydney pub baron Justin Hemmes in spending spree, snapping up Leichhardt, Lorne deals". The Age. Retrieved 9 April 2023.
  11. ↑ Waters, Cara (9 April 2023). "'It just felt special': Billionaire peers buy up Lorne's pubs". The Age. Retrieved 9 April 2023.
  12. ↑ Morton, Rick (20 June 2020). "Inside Hemmes' $100m wage case". Saturday Paper. Retrieved 1 November 2022.
  13. ↑ Carey, Alexis (10 February 2022). "Sydney pub baron Justin Hemmes faces $129 million class action bill within weeks". news.com.au. Retrieved 28 January 2023.
  14. ↑ Marin-Guzman, David (27 December 2019). "Justin Hemmes hit with $129m class action over underpayments" . The Australian Financial Review . Retrieved 21 November 2020.
  15. ↑ Patty, Anna (27 December 2019). "Justin Hemmes' Merivale group says employees unlikely to benefit from class action". The Sydney Morning Herald . Retrieved 21 November 2020.
  16. ↑ "Merivale accused of $126 million wage theft". Hospitality Magazine. 10 March 2020. Retrieved 21 November 2020.
  17. ↑ "Notice to Group Members" (PDF). Raymond Boulos v MRVL Investments Pty Ltd: NSD 2168/2019. Federal Court of Australia. 14 October 2020. Retrieved 21 November 2020.
  18. ↑ Marin-Guzman, David (31 March 2021). "Hemmes' Merivale loses key fight against $100m-plus back pay bill" . The Australian Financial Review . Retrieved 14 August 2023.
  19. ↑ "Hemmes' Merivale to pay out $18m in underpayment class action". Australian Financial Review. 6 March 2024. Retrieved 26 March 2024.
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