AUSTRALIA: Further dotcom gloom in Australia
By Tony Baker | 25 October 2001
Another online Australian liquor group, Winepros, is going out of business following a voluntary liquidation announcement to the stock exchange. Winepros listed in December 1999 raising A$25m (US$12.5m) at A$1 a share. According to its latest quarterly statement its sales for the three months to September 30 were just A$37,000. The arrangements for the liquidation of the business - which continues to operate its website - brought scathing attention from Australia's leading financial newspaper, the Financial Review, which reported that prominent wine personalities Len Evans and James Halliday would receive substantial payouts for original shareholdings on top of consultancy fees.
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Another online Australian liquor group, Winepros, is going out of business following a voluntary liquidation announcement to the stock exchange. Winepros listed in December 1999 raising A$25m (US$12.5m) at A$1 a share. According to its latest quarterly statement its sales for the three months to September 30 were just A$37,000. The arrangements for the liquidation of the business - which continues to operate its website - brought scathing attention from Australia's leading financial newspaper, the Financial Review, which reported that prominent wine personalities Len Evans and James Halliday would receive substantial payouts for original shareholdings on top of consultancy fees.
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