Blog: The sorry tale of Evans & Tate
Olly Wehring | 29 August 2007
The sorry demise of Evans & Tate last week looked like the final nail in the Australian company's coffin.
While the troubled situation down under for wine makers is well-documented, the long-running saga of E&T's hunt for help has been the most physical sign of just how tough things are in the country.
Having made the move into voluntary receivership last week, quite what the future holds for E&T is difficult to predict. The receivers themselves are quite confident they can find a buyer, with a spokesperson for McGrath Nichol telling just-drinks that the company will "internationally advertise both in Australia and off-shore, including the west coast of America".
One bright ray of sunshine for E&T came at the end of last week, when McWilliam's Wines confirmed that they will be handling distribution of E&T's branded wines in Australia. Also, with Pendulum Capital, who was part of a consortium whose rescue package for E&T failed last week, saying it is still interested in buying the firm, the future for E&T may still not be as bleak for the company as initially feared.
Quite how the future looks for some of the Australian wine grape growers, who are owed hundreds of thousands of dollars by E&T may be more of a worry, however...
We certainly hope not.
Spotted in Havana this week – a healthy stock of Pernod Ricard's Havanista rum. ...
Alcohol always has a big presence at the Oscars, albeit mostly in a supporting role....
Business is booming at copper pot still makers Chalvignac - you can tell from the loud noise coming from its factory floor in the French town of Jarnac-Champagne. ...
Heineken is betting big on the long-term opportunity around soccer in the US. ...
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