Ailing Californian wine group Cosentino Signature Wines has secured a further two months of debt finance, the company said today (11 December).

Cosentino, which is listed on London's Alternative Investment Market, announced the additional support two weeks after two directors loaned the company US$1m.

Last month, the company said the strong performance of the Cosentino Brand had failed to offset weakness at the wholesale level.

Debts had risen to around US$22.5m and to raise cash, the company had decided to put a hold on acquisitions and seek offers for "certain non-core assets".

Cosentino said it is assessing "additional funding options, such as secured bank debt, sub-debt and additional equity".