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AUSTRALIA: Hill Wine Group wineries' buyers to be named

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The administrators of the collapsed Hill Wine Group have said that the buyers for the company's three South Australian wineries should be named by the end of the week.

Ferrier Hodgson said that the three wineries in question, Fern Hill Estate in the McClaren Vale, Marienberg Wines and the Barossa company Basedow Wines, were being acquired by separate companies.

"We're in progress with negotiations with a number of parties for the break-up," said Ferrier Hodgson co-administrator, George Georges. In addition to the wineries, the Hill Wine Group assets also include a new A$16m distribution centre and warehouse in Sydney.

Terry Hill, managing director of the company, had blamed delays in the construction of this facility and the failure to find a co-tenant for the group's collapse. The administrators were called in in February after creditors called for the wind-up of company which had debts of A$34m.

 


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