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AUSTRALIA: Reynolds close to liquidation

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The Australian wine company Reynolds Wines is facing liquidation after administrators at PricewaterhouseCoopers recommended the move in a report released last week.

According to the Australian, the report indicated that Reynolds does not have sufficient funds to discharge its debts to creditors.

Reynolds went into voluntary liquidation in August.

In September the administrators warned creditors that the company was likely to be wound up as none of the prospective buyers for the company has submitted a formal bid.


Sectors: Wine

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