An iconic perth CBD pub has been given a lifeline after creditors accepted an $850,000 deal to save it from liquidation.
John Parker is the businessman behind the Parker Group, which operates popular fine dining hospitality venues including The Royal Hotel, Busselton Pavilion and Ciao Dandy in Karrinyup.
His pub and restaurant empire was thrown into uncertainty last month when administrators took control of the companies behind all three venues.
On Thursday morning, creditors of Wellington Pty Ltd, the company behind the Royal Hotel, approved a rescue proposal put forward by the Parker Group.
The deal means the central pub, built in 1882 on the corner of William and Wellington Streets, will continue trading.
Administrators Jack James and Paula Smith, from Rodgers Reidy, estimate the company owes about $3m. The tax office is the main creditor, with administrators estimating it is owed $2.4m.
In a report filed on September 10, James and Smith said creditors would have got nothing if the company was liquidated. Under the…