AUS: E&T - days are numbered? Auditor
The future grows ever bleaker for Evans & Tate, with the company's auditor voicing concerns that it is approaching the end of the line.
In the Australian wine company's annual report, released today (3 October), E&T's auditors warned that it is uncertain as to whether E&T can continue as a going concern.
Evans & Tate hit the headlines earlier this month, when it posted full-year net losses for the 12 months to 30 June of A$63.9m (US$47.6m). Earlier this year, it sold off two wineries to help reduce debt.
In the annual report, KPMG partner Trevor Hart said: "There is significant uncertainty whether the company and the consolidated entity will be able to continue as a going concern."
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